The Georgia Public Service Commission (PSC) today approved Georgia Power’s updated Nuclear Construction Cost Recovery (NCCR) tariff, including a reduced 2018 cost for Georgia Power customers for the Vogtle nuclear expansion. The announcement from the Georgia PSC with additional details is available here: http://www.psc.state.ga.us/GetNewsRecordAttachment.aspx?ID=780
Additionally, Georgia Power bill credits totaling $188 million were recently approved by the Georgia PSC as part of its order to continue construction of Vogtle 3 & 4 as a direct result of the Toshiba parent guarantee payments for the Vogtle project. The credits, amounting to $75 per individual customer, will be distributed across three separate Georgia Power bills in 2018, with the first $25 credit appearing in the coming months. The company also recently announced $1.2 billion in benefits for customers as a result of the Tax Cuts and Jobs Act. The benefits include approximately $130 million in reduced taxes on financing costs for the Vogtle nuclear expansion; $330 million in direct credits to customers as a result of lower federal income tax rates over the next two years and approximately $700 million in future benefits to be addressed in the company’s next base rate case in 2019, which also includes the benefits of a recent reduction in state of Georgia income tax rates. If approved by the Georgia PSC, the typical residential customer using an average of 1,000 kilowatt-hours per month could receive approximately $70 in refunds over the two-year period. More information available here.