Group wants Georgia Power profits trimmed over nuclear plant - | Chattanooga News, Weather & Sports

Group wants Georgia Power profits trimmed over nuclear plant

Posted: Updated:

Associated Press

ATLANTA (AP) - An environmental group wants to cut Georgia Power's profits as the cost of its new nuclear plant rises.

The Southern Alliance for Clean Energy asked the Public Service Commission to trim the profits that the Southern Co. monopoly can make once two new reactors at Plant Vogtle (VOH'-gohl) start producing power.

Georgia Power can make a nearly 11 percent return on what its shareholders invest in the project.

The project was originally estimated to cost Georgia Power and the other owners around $14 billion. Delays will likely push the final costs closer to $16 billion or more.

An identical project at the Summer nuclear station in South Carolina has run into similar delays and costs.

The elected members of Georgia's Public Service Commission will vote on those requests Aug. 18.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly