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Wednesday, March 30, 2011 - 11:24am

Nuclear Plant Funding Deal Stalls

Updated: 3 years ago.
Georgia Power says it's been unable to reach a deal on sharing the financial risk of building a new nuclear power plant. (Image by freefoto.com)

Georgia Power says it's been unable to reach a deal on sharing the financial risk of building a new nuclear power plant.

The power company said in a filing that it has not reached an agreement on a proposal meant to control construction costs during a planned expansion of Plant Vogtle near Waynesboro. The utility is asking the Public Service Commission to reject the risk-sharing idea.

The PSC plans to consider the issue Thursday. The commissioners had asked for negotiations between their staff and the power company.

PSC staffers have proposed taking a carrot-and-stick approach to constrain nuclear construction costs. Under their plan, Georgia Power would earn more money off its new reactors if building costs are below $5.8 billion.

The company would lose money if costs exceeded $6.4 billion.

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