Published reports say there could be rate increases for Georgia Power customers because of the cost overruns for Plant Vogtle reactors 3 and 4. In April, the Georgia Public Service Commission rejected a cost-control plan for the overruns, which means the costs can be passed on to consumers.
Griffin Power Director Bill Bosch said this will not affect Griffin Power customers as “MEAG locked in rates already. Our contract with MEAG is 90 percent financed and there are price caps on the rest.”
Bosch said “there is more exposure with the other participants, who have not secured a lot of the funding. There are no adverse updates to our schedule.”
Griffin Power is part of the Municipal Electric Authority of Georgia which is a co-owner with Georgia Power, Oglethorpe Power and Dalton Utilities in Plant Vogtle, the nuclear power plant near Augusta.
And unlike the Japanese nuclear plants, Bosch said, “Georgia plants are gravity-fed to cool. They don’t have to rely on power" to cool the reactors.
Bosch also expects to sell surplus power to other cities and states as Griffin Power has done in previous years.
“A lot of our after-market sales go to Florida,” he said.
He said the city also had a $1.8 million sale of surplus electricity to the city of Albany.