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Tuesday, August 2, 2011 - 3:57am

Vote Set For Nuclear Plant Financial Plan

Utility regulators are expected to vote on an agreement abandoning a plan to trim Georgia Power's profits if construction of a new nuclear power plant goes over budget.

The elected members of the Public Service Commission plan to vote on the deal Tuesday morning.

The agreement was negotiated last month between PSC staff members and the utility. It calls for dropping a plan that would have trimmed Georgia Power's profits if the construction of two more nuclear reactors at Plant Vogtle near Augusta costs the Southern Co. subsidiary more than $6.4 billion. The company could have earned a boost in profits had the project come in under budget.

Until recently, PSC staffers had said a financial risk-sharing deal was necessary to discourage cost overruns