Cost of Georgia nuclear plant draws scrutiny from lawmakers

ATLANTA (AP) — A group of Georgia lawmakers wants a “cost cap” in the construction of a nuclear power plant near Augusta, seeking to protect blown budgets from being passed on to consumers.

Two reactors being built at Plant Vogtle are billions of dollars over budget.

The plant’s owners recently learned another $2.3 billion was needed. That initiated a clause in the ownership agreement under which ninety percent of the ownership must agree to move forward or the project would be abandoned.

Georgia Power’s parent company pledged that its shareholders would absorb its share of the costs. That leaves other owners including Oglethorpe Power and Municipal Electric Authority of Georgia with a decision: pay up or pull out.

The lawmakers say the other organizations don’t have shareholders to absorb the costs and would likely need to increase rates.