Tag Archives: overruns

HB 267 Financing costs; construction of nuclear generating plant

As promised, a bipartisan bill was filed Thursday to stop Georgia Power from charging for nuclear cost overruns on Plant Vogtle; this could free up some financing for Georgia to move ahead on solar and wind power.

2013-2014 Regular Session – HB 267 Financing costs; construction of nuclear generating plant; change calculation that utility can recover from customers,

A BILL to be entitled an Act to amend Code Section 46-2-25 of the Official Code of Georgia Annotated, relating to the procedure for changing any rate, charge, classification, or service and the recovery of financing costs, so as to change the calculation used under certain circumstances to determine the costs of financing associated with the construction of a nuclear generating plant that a utility may recover from its customers; to provide for related matters; to provide an effective date; to repeal conflicting laws; and for other purposes.

The bill would add this text to Georgia Code:

…provided, however, that in the event the amounts recorded in the utility’s construction work in progress accounts plus the amount of all financing costs accrued on any construction work in progress accounts exceeds the costs approved by the commission in the original certificate of the nuclear generating plant granted under Code Section 46-3A-5, the cost of equity portion of the financing costs shall be calculated using a rate no higher than the utility’s actual cost of debt.

Let’s see what Georgia Power does to fight this one. So far, it’s Continue reading →

Bill against Vogtle nuke overruns to be filed Thursday

It’s about time. -jsq

Jeanne Bonner wrote for GPB today Vogtle Cost Overruns Targeted,

A state lawmaker wants to prevent Georgia Power from reaping profits on cost overruns at Plant Vogtle. Rep. Jeff Chapman will file a bill Thursday that would bar the utility from making money on anything other than the certified cost of the nuclear power plant it’s building in eastern Georgia.

Chapman said before writing the bill, he sent a letter to Georgia Power, asking the company to forego the profits.

He said he hasn’t had a response.

Under a 2009 bill, the company can collect in advance the financing costs for the two reactors it’s building near Augusta.

Chapman, a Brunswick Republican, says he supports the project. But

Continue reading →

T-SPLOST Southern Region Cost Changes

Update 6:30 PM 26 September 2011: Please see the corrected version received from Corey Hull today. -jsq

Received yesterday from Corey Hull, with this cover sheet message, responding to my request in the T-SPLOST public meeting Monday.

John,

In the attached spreadsheet you will find the each project associated with four columns: the original estimate, the updated estimate, the TIA funding (any difference from the TIA and updated cost estimate is a secondary funding source i.e. federal, state, or local), and whether that project is currently included in the constrained list.

GDOT provided the updated costs estimates (based on current GDOT bids) and in some cases those estimates were further revised by GDOT and the local governments where appropriate. All project scopes remained the same with the exception of RC11-000049 and RC11-000042 (highlighted in yellow), these project termini were changed significantly.

I hope this answers your questions, let me know if you have any more.

Corey

Corey Hull, AICP
MPO Coordinator
Valdosta-Lowndes MPO
327 W. Savannah Ave.
Valdosta, GA 31601
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229.333.5277
229.300.0922 (c)
229.333.5312 (f)
chull@sgrc.us
www.sgrc.us/transportation

The spreadsheet he sent is on the LAKE website in Excel spreadsheet and HTML versions. If you want to know what the projects are, you need to look at the unconstrained and constrained project lists. More later.

-jsq