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Plant Vogtle’s hidden costs: Ga Power’s unusually high ROE (10.5% vs 9.5% industry norm) was made by the Ga PSC and @timechols to cover the financial risks of Plant Vogtle from bond markets and Wall Street shareholders due to poor management and delays of the project.
Not only ROE but also the earnings band (250 basis points so really, a 12% ROE) and an unusually rich capital structure of 56% equity to 44% debt compared to industry norms of 51% equity to 49% debt that the GA PSC @timechols has been granting Ga Power since 2019.
Added together these three crazy high profits for Ga Power total $740 million in excess profits annually, since 2019. That money is coming from our bills. Each Georgia household is paying $278 extra annually for these votes and decisions by the commission.
The dust has settled and it’s time to debrief what happened in Ga Power’s rate proceeding last Tuesday (12/20/22) and how it impacts Georgia Power customers. I will focus on 3 parts:
Part 1 will focus on earnings and bills.
Part 2 will focus on climate change and solar energy.
Part 1 will focus on earnings and bills.
Part 2 will focus on climate change and solar energy.
Part 3 will focus on transparency and ethics.
In Georgia, rate cases are filed every 3 years. That does not mean your rates will only go up every three years. In fact rates will go up a shocking 5 times next year as I will explain now in Part 1.
Elected officials at the
In Georgia, rate cases are filed every 3 years. That does not mean your rates will only go up every three years. In fact rates will go up a shocking 5 times next year as I will explain now in Part 1.
Elected officials at the
Georgia Public Service Commissioners rate increase will raise Ga Power electric bills 12% over three years. In January the average bill will increase about 2.5% / mo., in 2024 4.5% / mo., and in 2025 about 4.5% mo.
The lower 2023 bill increase relative to 2024 and 2025 is to
The lower 2023 bill increase relative to 2024 and 2025 is to
