Ga. debates penalizing utility over nuclear costs - DC News FOX 5 DC WTTG

Ga. debates penalizing utility over nuclear costs

ATLANTA (AP) - A Republican lawmaker in Georgia wants utility profits trimmed if the company goes over budget building a nuclear power plant.

Rep. Jeff Chapman of Brunswick asked a subcommittee Tuesday to support his proposal cutting the profits of Georgia Power if the cost of building Plant Vogtle (VOH'-gohl) near Augusta exceeds a construction budget set at over $6 billion.

Georgia Power is a subsidiary of the Atlanta-based Southern Co.

The utility's legislative affairs manager, John D'Andrea, says state utility regulators already monitor the project's cost.

Electric customers would still reimburse the utility for its actual construction expenses and borrowing under Chapman's plan. But the firm would earn a lesser profit on any investments that went over the state-approved budget.

Nuclear plants are also under construction in South Carolina and Tennessee.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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