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Wednesday, August 14, 2013 - 5:00am

Monitor: Finances Wouldn't Justify Nuke Plant Now

A state financial analyst says Georgia wouldn't build a nuclear power plant if it were starting from scratch.

The analyst working for state regulators, Philip Hayet, said in written testimony that the total costs of building two more nuclear reactors at Plant Vogtle is more expensive than the next-best option, constructing natural gas plants.

Still, Hayet says it is cheaper in most scenarios to finish the nuclear plant rather than halt the project and instead build natural gas plants.

Hayet's calculations have not been publicly released since they involve proprietary financial information from Southern Co. subsidiary Georgia Power. The cost of natural gas has plummeted since the project started.