Then, next February, the company will make its case at the PSC to recover costs it has paid for the coal and gas burned at other power plants. Once Plant Vogtle’s two long-delayed and over-budget nuclear reactors come online, Georgia Power is expected to ask the five members of the Georgia Public Service Commission (PSC) to allow the company to recover certain cost overruns of building the units from its customers. Those aren’t the only hikes likely to hit Georgia Power’s electricity customers in coming months and years. “I think everything that Georgia Power is doing is absolutely consistent with the balancing act we must follow of providing clean, safe, reliable and affordable energy over time,” Fanning said. On Thursday, Fanning and Georgia Power’s chairman and CEO, Chris Womack, defended the requested higher rates as necessary to maintain the reliable service he said customers expect. Critics have claimed the company’s return is already excessive. Georgia Power has also asked regulators to bump up its return on equity, or the amount that Southern Company shareholders earn on their investments. All told, households could see their annual bill go up by almost $200 over the next three years. That would be followed by smaller increases of $1.35 per month in 2024 and $0.62 per month in 2025. Explore Critics warn Georgia Power’s proposed rate hikes won’t be the lastĭespite the sunny earnings report, Georgia Power - Southern’s largest subsidiary - is pushing state regulators to approve another major rate increase that would hit its 2.7 million customers’ bills starting next year.īeginning in January, the average Georgia Power residential customer’s bills could climb by $14.32 each month. Still, the project is more than five years behind schedule and has cost an estimated $30 billion to build, more than double initial projections. Vogtle Unit 3 is expected to begin generating electricity in the first quarter of 2023, with Unit 4 joining it by the end of 2024. If current testing proceeds as planned, that could occur as soon as January, Fanning said. Fanning said the next major milestone is to achieve what’s known as criticality inside Unit 3, which means creating a sustained nuclear chain reaction. Juneteenth: Celebrating the end of slavery in the U.S.Southern’s Chairman and CEO Tom Fanning also attributed earnings growth to recent progress on Plant Vogtle’s two new nuclear reactors.Įarlier this month, Georgia Power loaded fuel into Unit 3, a significant step toward generating electricity from the first commercial nuclear units built in the U.S.Southern Nuclear celebrates Pride Month.Southern Nuclear sponsors Nuclear Science Week activities.Five decades of energy education at Plant Hatch.National Safety Month - Operator Training.National Safety Month: Containment Building.Southern Nuclear receives TIP award at NEI Conference Atlanta-based Southern Company records 920M loss for new nuclear units in 4Q Southern Company, the electric utility overseeing the beleaguered Plant Vogtle nuclear expansion near.Southern Nuclear launches mentoring programs.Southern Nuclear employees recognized with NAYGN National Excellence Awards.Hispanic Heritage Month: Benjamin Tyler Rothschadl.
Leadership and Building the Future of Energy.Southern Nuclear celebrates Military Appreciation Month: Shannon Ramey.Southern Nuclear celebrates Military Appreciation Month: Brian Jackson.Southern Nuclear celebrates Military Appreciation Month: Kerry Battle.Southern Nuclear celebrates Military Appreciation Month: John Long.Nurses volunteer with vaccine distribution.Behind the Mask: Kayla Smith, Vogtle 3&4 People Based Safety Facilitator.Women’s History Month: Jordan Rice, Assistant to the VP of Engineering.Women’s History Month: Hatch Maintenance and Technical Training Manager Lea Carter.Keep up-to-date with all the Southern Nuclear news. With a diverse group of employees whose commitment to safety and the pursuit of industry-leading performance is paramount, we work to develop our people to constantly model high standards in all aspects of our work. We actively give, engage and collaborate whenever possible.Īt Southern Nuclear, our people are our core. We are committed to serving the communities nearest to each of our operating plants. For more than 40 years, the company has operated nuclear energy facilities at the highest levels of safety and reliability, creating carbon-free electricity for millions of homes and businesses. Southern Nuclear is a leader among the nation’s nuclear energy operators, running six units for Alabama Power and Georgia Power.
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