Hitting Georgia residents where it hurts, their wallets, Georgia Power has gained approval to let its customers foot a hefty $7.56 billion bill for the Plant Vogtle nuclear expansion - the tab's now coming due. According to FOX 5 Atlanta, the state regulators gave the green light on Tuesday for the utility giant to jack up rates to recover the cost of two new nuclear reactors near Augusta, overruns totaling a staggering $10.2 billion. The increase, which piles onto earlier rate hikes from this year, promises to swell average monthly energy bills by 5% or about $8.95, starting this spring.
In a decision that couldn't have come at a worse time for folks already grappling with the persistent sting of inflation, the Public Service Commission did not waver. Their unanimous vote rubber-stamped a final tally for Georgia Power's share of the nuclear project to the tune of $31 billion – a figure that balloons to nearly $35 billion when adding $3.7 billion paid by the original contractor Westinghouse to extricate themselves from construction, as per AP News. This comes following earlier rate increases totaling about $20 per month, with March 31st marked as the day the new charges take effect.
It's not just balance sheets that are feeling the squeeze, but ordinary Georgians who expressed discontent at the mounting financial pressures. "It’s another increase with everything else increasing and the cost of food and things like that," bemoaned Merci Treaster, as told to FOX 5 Atlanta. Another resident, Patrick Garrett, lamented to the same outlet, "It’s already high enough." Clearly, the cumulative impact of Georgia Power's decisions is not lost on these individuals.
Voicing the struggle of many, Kimberly Scott, Executive Director for Georgia WAND, an environmental justice advocacy group, called the hike "unreasonable" in comments to FOX 5 Atlanta. With so many increases in such a short period, she calls into question how people will continue to shoulder these financial burdens. Georgia Power, on the other hand, in a tone-deaf remark, says the decision "acknowledges the perspectives of all parties involved" and takes a "balanced approach."
Now, with the regulators' vote setting a date for the inevitable, Georgians are bracing themselves for tighter belts. The first unit at Vogtle already began its operations over the summer, heralding a $5.42 bump in bills. With the final reactor expected to rev up by March, customers can only look ahead to the additional costs, despite the reactors' arrival coming six years late and well over the initial $14 billion budget. For families across Georgia, balancing their household's energy needs with the new economic realities is going to be the next big challenge.
