Just as Georgia Power’s credit was downgraded this month for financial losses related to Plant Vogtle, Moody’s Investors Service has downgraded the rating of bonds issued by the South Carolina Public Service Authority for an aborted nuclear plant in the Palmetto State. But that’s just part of the story.
The Southern Co.’s aggressive sales of assets helped it retain its credit rating, despite financial losses at Georgia Power that relate to Plant Vogtle. Those losses prompted Moody’s Investors Service to downgrade Georgia Power’s credit rating.
A new report on the construction status of the Vogtle nuclear plant, released Wednesday by Moody’s Investors Service, provides greater detail than a May 10 statement released by Georgia Power and cites a number of risks that could further delay the plant’s opening date.
What members of the Public Service Commission do affects your power bill every month and the mix of coal, nuclear and other electricity sources Georgia uses. That’s why environmentalists watch it closely. Now the candidates for the PSC are showing up on primary ballots all over the state — and on Thursday, they faced off in debates.
Two timber companies and Georgia Power were honored Wednesday by Gov. Nathan Deal for their environmental stewardship and land management practices. The Forestry for Wildlife Partnership recognizes the importance of private landowners in preserving the state’s wildlife and landscape.
At Friday morning’s Sustainable Atlanta Roundtable (SART), State Sen. Chuck Hufstetler (R-Rome) strongly criticized the financial plan to pay for the two new nuclear power plants at Plant Vogtle.
Hufstetler, chairman of the Senate Finance Committee, openily criticized Senate Bill 31 that passed in 2009 that approved the financial plan for Plant Vogtle. It was called the Georgia Nuclear Energy Financing Act, which permitted the utility to begin recovering the costs of financing the construction of the new nuclear plants from consumers before they came on line.
By Lyle V. Harris Georgia Power is likely to get another shot-in-the-arm after announcing plans to complete construction on those ill-fated nuclear reactors at Plant Vogtle near Waynesboro. A far more appropriate response to this epic boondoggle, of course, would be a swift kick in the pants. But don’t count on it.
Atlanta-based Southern Co. has decided to push forward with completion of an over-budget, behind-schedule nuclear expansion at Plant Vogtle rather than give up on what has ballooned into a $25.2 billion project.
Southern affiliate Georgia Power Co. filed a recommendation Thursday with the state Public Service Commission (PSC) to continue construction at the nuclear plant south of Augusta, Ga. The project’s co-owners, Oglethorpe Power, MEAG Power and Dalton Utilities all supported the recommendation, Paul Bowers, chairman, president and CEO of Georgia Power told Atlanta Business Chronicle in an exclusive interview minutes after the announcement.
The Georgia Public Service Commission on Tuesday authorized Georgia Power to build three solar facilities that are to generate a total of 142 megawatts of electricity. The facility planned at Robins Air Force Base is to account for 139 MW of that power.
You probably wouldn’t know it from checking our local media outlets, but Georgia Power, the state’s largest electric utility, is at the center of one of the biggest consumer shakedowns in state history – and there could be more bad news on the way.
Dale Ross is fond of saying that a business decision is at the root of the plan in Georgetown, Texas to switch over to 100 percent solar and wind energy in 2017. Ross says renewable energy is a better deal for residents of the city he serves as mayor.
A settlement reached by the owners and contractors who are developing two nuclear plants at Plant Vogtle is expected to enable state utility regulators to certify the higher costs estimates and schedule announced earlier this year.
Atlanta intends to generate solar power and sell it to Georgia Power through a planned public-private partnership with a Chicago-based energy firm.
The Atlanta City Council on Monday authorized Mayor Kasim Reed to enter negotiations with New Generation Power, Inc. Terms call for a 20-year ground lease with the solar company, and for the firm to deliver, install and maintain photovoltaic panels and related equipment.
The city intends to lease land for solar farms at three landfills, which are closed, and at two sites at Atlanta’s airport, according to provisions of the legislation. The company is to pay all costs associated with the project, and its website says it has funds available through its shareholders, partners, and lending institutions.
Georgia’s utility regulator made the right decision in allowing Georgia Power to raise rates to pay for power plant upgrades before the work is complete, according to former EPA administrator Christine Todd Whitman.
“What that does is prevent a cliff from developing, where you have to recover costs all at once,” Whitman said. “We have aging infrastructure. That’s a challenge everyone is facing across the country.”
Whitman spoke with SaportaReport.com discuss her concerns about a guest column on solar power. The conversation covered a variety of policy issues related to the nation’s power supply and delivery system.
Young Georgia voters strongly favor the proposed Georgia Power rate hike and fewer than half support shifting from coal to renewables to generate electricity, according to a results of a poll by the Georgia chapter of the Sierra Club.
The polling company advised against reading too much into results from the millennials because the margin of error for the age bracket is 13.2 percent, compared to 3.23 percent for the total poll. The broader results of the poll show widespread opposition to the proposed rate hike and strong support for shifting away from coal-fired power plants.
Georgia Power is requesting to hike its rates in order to raise $873 million. Georgia’s Public Service Commission is slated to vote on the proposal Dec. 17, following a decision Thursday morning by a PSC committee to schedule the matter for a vote by the full commission.