If Oglethorpe and MEAG win, it could hold down bills for the millions of customers of electric cooperatives and municipal utilities in Georgia, as well as for customers of the municipal utility in Jacksonville.
– The owners of a majority share of a nuclear power plant being expanded in Georgia are suing lead owner Georgia Power Co., claiming the company is trying to bilk them out of nearly $700 million by unilaterally changing a contract.
If Georgia Power loses, the shareholders of its parent, Atlanta-based Southern Co., would most likely have to absorb more losses. The company has said it's unlikely that its regulator, the Georgia Public Service Commission, will let Georgia Power charge customers above a certain amount for Vogtle.Oglethorpe and MEAG say a judge should enforce the contract and order Georgia Power to repay disputed amounts, plus interest and attorneys fees.
At issue is a 2018 deal. Oglethorpe threatened to back out unless it was protected from additional overruns. Because Oglethorpe's 38 cooperatives and MEAG's 49 municipal utilities don't have shareholders, unlike Georgia Power, there's no one to absorb overruns except electric customers.Georgia Power owns 45.7% of the two reactors, compared to Oglethorpe's 30% and MEAG's 22.3%. The city of Dalton's utility owns the remaining 1.6% and hasn't sued.
Oglethorpe and MEAG say Georgia Power should already be paying higher shares of construction costs under the agreement. Oglethorpe announced on Saturday that it will freeze its costs and force Georgia Power to pay additional overruns in exchange for part of Oglethorpe's ownership, saving Oglethorpe a projected $400 million.But Georgia Power says the base construction cost should be $18.38 billion and that the agreement doesn't kick in until shared costs reach $20.48 billion.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
ERCOT predicts record power demand this summerThe organization that runs the Texas power grid is forecasting one of the hottest on record. But can it meet the expected demand?
Weiterlesen »
Dolce & Gabbana underlines power of connection in cinematic narrativeItalian fashion house Dolce & Gabbana is bringing consumers into the personal story of founders Domenico Dolce and Stefano Gabbana through a dramatic film campaign.
Weiterlesen »
Two Teslas Plus Home Solar Power Is Energy FreedomWhen someone posted on Twitter that he just sold his ICE vehicle and replaced it with a Tesla Model Y thereby achieving an all-EV household, it was intriguing.
Weiterlesen »
'It's completely Orwellian': How Daniel Ortega tightened his grip on power in NicaraguaNicaraguan President Daniel Ortega has had his political opponents beaten and thrown in jail and passed legislation making criticism of the government a form of treason. Sharyn Alfonsi reports on the loss of democracy in Nicaragua.
Weiterlesen »
How To Harness The Power Of Your Dreams, From A PsychologistEvery night when you sleep and dream, you're gifted the opportunity to deepen your connection to your own psyche and the spirit world. Here's how to start understanding your dreams, according to a psychologist. 😴
Weiterlesen »