Despite Obama’s Nuclear Bailout, Georgia Power Still Increasing Rates

From the AP:

Georgia Power still plans to increase rates next year to finance two new nuclear reactors at Plant Vogtle despite billions of dollars in federal loan guarantees announced Tuesday by the Obama administration.Georgia Power spokesman Jeff Wilson said any savings the utility will see from the federal loan backing won’t occur until January 2012. That means ratepayers will see their electric bills rise by an average of $1.30 a month in 2011 as planned, he said.

The Obama administration said the nuclear plant near Augusta had been selected to receive more than $8 billion in federal loan guarantees. The expansion at Vogtle will mark the first nuclear power plant construction in the United States in nearly three decades.

The two new reactors are scheduled to be completed in 2017 at a price tag of $14 billion.

Last year, the Georgia Legislature approved a bill allowing Georgia Power to begin charging ratepayers for the expansion at Plant Vogtle some six years before the first of the two new reactors is set to go online. Under the bill, which was signed into law by Gov. Sonny Perdue, the rates will gradually step up until ratepayers are paying an additional $9.10 a month in 2017.

The new law allows Georgia Power, a subsidiary of Southern Co., to begin to collect some $1.6 billion in financing and shareholder equity costs early.

[Read more at the AP]

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  • Anonymous

    Yet another reason NOT to move to nuclear power. The nuclear industry is run by Cheney-esque douchebags.

    See, expanding nuclear power isn’t just stupid from a safety perspective.

    It’s not just stupid from a cost overrun perspective (nuclear is notorious in this regard, consistently costing more than expected, and not yielding ANY returns for many years after construction).

    It’s not just dumb from a security perspective.

    It’s dumb from a CONSUMER perspective.

    One reason why we should be supporting 4 things:

    Solar
    Wind
    Energy Grid Reform
    Micro Co-generation

    Is because such ideas operate on an internet-like model.

    Power is DISTRIBUTED between small producers who then can contribute back to the larger power grid from their individual windmills and solar cells, in much the same way as information gets broadly input and distributed on the internet.

    Power is then MORE secure and LESS expensive, because it is DE-CENTRALIZED.

    A terrorist can’t just knock out one solar cell and “nuke” the whole system.

    Indeed, it’s even more broadly PROFITABLE to follow the decentralized model of co-generation. And I don’t know about you, but I’d much rather receive a CHECK from the power company, than a BILL.

    Why is the internet so powerful that dictatorial governments like China’s and even our own corporate hacks try to control it? Because since it is DE-CENTRALIZED information distribution — even the info they don’t WANT to get out — GETS OUT, because there is no central authority through which the information must be filtered or approved. ANYONE can contribute from ANYWHERE.

    But as long as we’re operating our energy production on a centralized model that rewards a few number of fat-cat special interests, our energy situation will NOT improve any more than our security situation will.

  • 5by5

    Yet another reason NOT to move to nuclear power. The nuclear industry is run by Cheney-esque douchebags.

    See, expanding nuclear power isn't just stupid from a safety perspective.

    It's not just stupid from a cost overrun perspective (nuclear is notorious in this regard, consistently costing more than expected, and not yielding ANY returns for many years after construction).

    It's not just dumb from a security perspective.

    It's dumb from a CONSUMER perspective.

    One reason why we should be supporting 4 things:

    Solar
    Wind
    Energy Grid Reform
    Micro Co-generation

    Is because such ideas operate on an internet-like model.

    Power is DISTRIBUTED between small producers who then can contribute back to the larger power grid from their individual windmills and solar cells, in much the same way as information gets broadly input and distributed on the internet.

    Power is then MORE secure and LESS expensive, because it is DE-CENTRALIZED.

    A terrorist can't just knock out one solar cell and “nuke” the whole system.

    Indeed, it's even more broadly PROFITABLE to follow the decentralized model of co-generation. And I don't know about you, but I'd much rather receive a CHECK from the power company, than a BILL.

    Why is the internet so powerful that dictatorial governments like China's and even our own corporate hacks try to control it? Because since it is DE-CENTRALIZED information distribution — even the info they don't WANT to get out — GETS OUT, because there is no central authority through which the information must be filtered or approved. ANYONE can contribute from ANYWHERE.

    But as long as we're operating our energy production on a centralized model that rewards a few number of fat-cat special interests, our energy situation will NOT improve any more than our security situation will.

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