Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Master Resource (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Georgia Power’s Nuclear Fiasco: ‘The Stipulated Settlement Should be Rejected’

% of readers think this story is Fact. Add your two cents.


[Ed. Note: The author, an energy-management consultant and a classical liberal, is an active voice for free-market energy policy in the Southeastern US. He is also a board director of the Institute for Energy Research (IER) and its advocacy arm, the American Energy Alliance.

The December 2016 filing below was followed by an agreement between the Georgia Public Service Commission and Georgia Power Company that allowed GPC recovery of $1.55 billion in cost overruns regarding the 2,240 MW two-unit Vogtle nuclear project. (The plant’s original cost estimate of $14 billion is currently at $18 billion, a 28 percent overage.)

Mr. Clarkson has critically written on the Vogtle project since 2012, Politics and the Nation’s Next Nuclear Plant (Georgia Power’s boondoggle under construction). Subsequent posts by Clarkson have been written in 2013; 2014; 2015 (here, here, here, and here); and 2016 (here and here).

————————————————–

” The Georgia Public Service Commission is Imprudent … “

Before the Georgia Public Service Commission (In the matter of: Docket No. 29849)

Construction Monitoring Proceeding for Georgia Power Company’s Plant Vogtle Units 3 and 4; Supplemental Information, Staff Review, and Opportunity for Settlement

The Commission has before it a settlement agreement between the Public Service Commission Staff and Georgia Power Company declaring the expenditures on the Vogtle nuclear project are prudent through December 2015. This settlement agreement should be rejected in whole and each part.

 The Georgia Public Service Commission is Imprudent

It was imprudent for the Commission to even consider approving the construction of another nuclear project given the history of the first phase of Plant Vogtle with its cost overruns and schedule delays.

It was imprudent for the Commission to rely on Georgia Power’s assertions that the agreement between the Company and the Contractor protected ratepayers.

It was imprudent for the Commission not to place a cap on construction costs when approving the project.

It was imprudent for the Commission to reject Staff’s proposal for penalties if the project cost exceed the certified amount.

It was imprudent the Commission to allow pre-collection of interest and profits on capital expenditures.

It was imprudent for the Commission to fail to vigorously oppose the legislation allowing pre-collection and cost recovery if the project halted.

It was imprudent for the Commission to agree to six-month reviews of construction costs. Such a process weakened any future challenge of expenditures and made the Commission a partner in the project.

It was imprudent for the Commission not to join in the lawsuit opposing sales tax collections on financing cost of the project.

It was imprudent for the Commission to even order this extra proceeding to consider prudence.

NOW THEREFORE, it is time for the Commission to do the prudent thing and not approve the settlement before it.

Submitted this 12th day of December 2016

Jim Clarkson, Resource Supply Management

The post Georgia Power’s Nuclear Fiasco: ‘The Stipulated Settlement Should be Rejected’ appeared first on Master Resource.



Source: https://www.masterresource.org/georgia-power-plant-vogtle/georgia-power-nuclear-fiasco-stipulated-settlement-rejected/


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.