Women. Power. Peace.

Speak Up! Speak Out! PSC Meeting 7/6/11

Are you a Georgia Power rate payer to does not want to finance new nukes in Georgia, or assume the company's financial risks?

Georgia Power is planning the construction of two new nuclear reactors at Plant Vogtle near Waynesboro. This investment in high risk energy necessitates federal loan guarantees in the amount of $ 8.7 billion from the U.S. Department of Energy. In order to qualify for these loans and afford processing fees, Georgia Power must increase its revenues from ratepayers, shifting the financial burden from their executives and stockholders to their customers.

A risk sharing mechanism would protect ratepayers from cost overruns.  With no risk sharing mechanism, ratepayers will be billed for all budget overruns (i.e., without an RSM, there will be no sharing of the risk between ratepayers and shareholders).  Staff’s RSM even builds in a $300 million “buffer” above the $6.1 billion certified cost, so cost can go as high as $6.4 billion without any adjustment whatsoever to Georgia Power’s return on investment.

Speak up! Speak out!

We'll host a press conference, along with the Sierra Club, Nuclear Watch South, and Atlanta Grandmother's for Peace to speak about risk assessment management of Georgia Power's already increased and further increasing rate hikes. Join us for the press conference and rally outside the PSC and please consider making public comments at the meeting.

When: Wednesday, July 6, Press Conference 9:40 AM, Meeting 10:00 AM

*We'll gather in the Central Presbyterian courtyard at 9:15 and walk together to the PSC

Where: Public Service Commission, 244 Washington Street, SW, Atlanta, GA 30334

For more information or press inquiries, contact Courtney Hanson, courtney@wand.org

Contact Us

Georgia Women's Action for New Directions

250 Georgia Avenue
Suite 202
Atlanta, GA 30312

404-524-5999 - phone
404-524-7593 - fax

info@georgiawand.org

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