Wed., October 13, 2010 3:35pm (EDT)

Vogtle Lone Recipient Of Federal Guarantees
By Noel Brown
Updated: 4 years ago

AUGUSTA, Ga.  —  
A canceled nuclear project in Maryland makes Plant Vogtle near Augusta the only recipient of billions in tax-payer backed loan guarantees. (photo courtesy Nuclear Regulatory Commission)
A canceled nuclear project in Maryland makes Plant Vogtle near Augusta the only recipient of billions in tax-payer backed loan guarantees. (photo courtesy Nuclear Regulatory Commission)
Last week Baltimore based Constellation Energy withdrew its proposal to build a new nuclear reactor, despite having been offered more than $7 billion in federal loan guarantees.

That’s because company officials said the terms of the guarantees were unworkable.

It’s also because Maryland laws don’t allow utilities to pass on the cost of construction to ratepayers like they can in Georgia.

Danny Orrock is with the consumer advocate group Georgia Watch.

"Here in Georgia when the ratepayers bare the risk apparently that makes it a good deal," he said.

Georgia Power plans to hike rates in January to help pay for the estimated $14 billion price tag of two new reactors at Plant Vogtle.

The initial increase will be about $4, more than twice what was originally announced.