Amid all the other big news swirling around President Donald Trump’s former attorney, Michael Cohen, the revelation that a Chattanooga developer offered him $10 million to secure government loans for his late-life project didn’t attract much national attention. But it’s a story for our times.
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.
The hero or villain of the effort to save Plant Vogtle could prove to be the head of a private equity firm who pioneered junk bonds and was nearly scuttled in 1990. Georgia Power protested terms of the loan deal, but a New York judge provided some protection and last week ordered that the entire $800 million in loan funds should flow.
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.