Georgia Power: Nuclear critics’ data is flawed

28 01 2009

 

MARGARET NEWKIRK | The Atlanta Journal-Constitution

Georgia Power fired back at critics this week, saying dire warnings about the cost of its proposal to collect fees upfront for nuclear power expansion were mistaken.

In testimony filed with the state Public Service Commission late Monday, the utility said critics including the PSC’s public advocacy staff had mixed accounting apples and oranges to come up with their estimates. Those critics will have an opportunity to cross-examine the company in two weeks.

The company also blasted a cost-control mechanism proposed by the state PSC staff.

Under that plan, the PSC could roll back Georgia Power’s allowed return on its $6.4 billion nuclear investment if the construction project ran too far over budget.

Georgia Power said no dice.

“We must start by emphatically stating that we cannot and will not agree to the staff’s proposed ‘incentive’ plan,” the company said in the testimony.

“We will not accept a certificate that includes those regulatory conditions,” it said.

The company said its business depends on offering low rates, which is cost-control incentive enough.

Georgia Power’s rebuttal came on the eve of a state Senate committee hearing about a bill that would give the company the early funding it wants, bypassing the PSC.

The Senate Regulated Industry and Utility Committee will hear testimony on Senate Bill 31 Wednesday afternoon.

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