By Editors of Power Engineering
Georgia Power announced customers will pay $139 million less for the plant Vogtle expansion due to recent changes in federal tax law as well as the receipt of parent guarantee payments from Toshiba.
The company expects the customer savings will begin in April, with the average customer paying $2.70 less per month.
Georgia Power noted Toshiba, parent company of now-bankrupt original Vogtle contractor Westinghouse, has fulfilled the promised payments of $3.68 billion. Additionally, the amended payment structure agreement with Georgia regulators lowers customer liabilities by $750 million through 2022 and $1.7 billion through the entire construction period.
Construction of the two new units at Vogtle has continued uninterrupted following Westinghouse’s bankruptcy in 2017. Southern Nuclear is now the project manager with Bechtel managing daily construction efforts.