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Thursday, May 27, 2010 - 6:32am

PSC Reviews Plant Vogtle Costs

Georgia Power wants to lock in a price for some materials to build two nuclear reactors at Plant Vogtle. It’s asking the Public Service Commission to approve it.

Georgia Power wants to the change its contract with Westinghouse and Shaw Industries in order to buffer some of the project’s cost from market fluctuations.  Georgia Power’s Jeff Burleson says it will ultimately save customers money.

"It takes away that risk and it fixes those costs at a level that is less than what we have included in the budget and the fore-casted costs of the budget," says Burleson.

The PSC staff noted however that the undisclosed fixed rate is higher than the rate of the past two years.

Georgia Power argues that’s due to the recession and the new fixed rate represents trends over the last two decades.

The PSC will review the numbers and decide whether the fixed rate is fair to customers.

The construction project is estimated to cost 6 billion dollars and take seven years to complete.