Meant to Tweet out this link yesterday - re: @wabenews convo on #gapsc rate case. Public comment is taking place now

wabe.org/hearings-on-ge…
@wabenews rate cases are the nature of the beast. They are part of the structure of rate-regulated eelctric companies.
Nationwide, electric companies are going through a significantly capital-intensive time as they transition away from fossil fuels. Customers pay for that via higher rates
@wabenews Compounding the situation is: higher natural gas prices, which is leading many electric cos to ask and re-ask to recoup more from customers to cover fuel costs. The utilities don't profit from fuel; but it's an additional charge all the same
@wabenews and, the nation is coming off of a hot, humid summer, where residents were running their a/cs all the time. Probably more for those who live in older, inefficient homes.
On top of that: inflation, supply chain constraints and higher commodity prices play a role in higher bills
@wabenews this clean energy transition costs money; not doing it also costs money.

It costs money to strengthen the grid to withstand mother nature; and not doing so means rebuilding the grid all of the time, which also costs money
@wabenews Georgia Power's CEO answering questions from state utility regulators now

@chriscwomack is more out front in the community than some of his predecessors, based upon recent appearances and other recent announcements
@wabenews @chriscwomack regulators always driving home the point that certain policies are 'mandates' from the federal and/or state government and not them.

also the rate vs. bill argument came up again.

in other words, the, "it's not our fault" discussion.

#gapol #gapsc

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More from @BizWriterKristi

Sep 30
There has been an ongoing dispute between Southern Co./Georgia Power and the publc power utilities over who pays for #Vogtle's costs going forward. Southern and MEAG (municipalities) have reached a settlement in that dispute -- SEC filing is here: d18rn0p25nwr6d.cloudfront.net/CIK-0000092122…
I've barely read this filing, so you all can analyze on your own
Read 8 tweets
Jun 22
Plant #Vogtle co-owners sue Georgia Power over rising costs
#gapol #gapsc
In #Energywire

subscriber.politicopro.com/article/eenews… via @EENewsUpdates
Long story short, a 2018 owners agreement spells out that Georgia Power starts absorbing more of Vogtle’s costs once certain benchmarks are reached. The utility also has the option of canceling the project (which we know isn’t happening, but that option is stated in the agreement
In their lawsuits, Oglethorpe and MEAG essentially state that Georgia Power continues to send them a bill for their portion of Vogtle and wants them to pay in full.
Read 10 tweets
Jun 22
“This is not a survivable market. Homeowners cannot find coverage."
Insurance crisis hits Florida.
eenews.net/articles/this-…

Story by @ByTomFrank in #Climatewire
this story takes me back to 2004, 2005, etc. and it is not a good trip in the 'wayback machine,' let me tell you
Florida's insurance industry is nothing short of a mess, and it makes it virtually impossible for anyone, short of being a millionare, to afford a home. (not that the current bubble hasn't done that already)
Read 5 tweets
Jun 21
Good morning (again) - In separate lawsuits, Oglethorpe Power and the Municipal Electric Authority of Georgia (MEAG) are suing Georgia Power over #Vogtle's rising costs

#gapol #gapsc #Vogtle
at issue is whether a monetary threshold has been reached that lets #Vogtle's co-owners freeze their payments to Georgia Power in exchange for a lesser MW share amount.
The co-owners say that benchmark has been reached.
Georgia Power doesn't
#gapol #gapsc #Vogtle
Read 7 tweets
Jun 21
Oglethorpe Power, the second-largest owner of #Vogtle, tells Georgia Power that its capping its payments to the project at $8.1 billion ... in #Energywire
subscriber.politicopro.com/article/eenews… via @EENewsUpdates
but wait, there's more .... #Vogtle #gapol #gapsc
The option for #Vogtle's co-owners (the public power companies) to freeze payments in exchange for a lower MW share of the electricity is spelled out in the 2018 ownership agreement. But there's a disagreement (of course)
Read 5 tweets
Nov 5, 2021
Southern Co. says it will be too expensive to upgrade many of its remaining coal plants to meet ELG standards ... so it's filed proposals w/Alabama and Georgia regulators to shut them down. In #Energywire eenews.net/articles/natio… $SO (#Vogtle thread to follow)
If you are not following my #Climatewire colleague @bstorrow already, he's got a nice thread on what these planned #coal closures mean for Southern $SO
There was more news yesterday, however ... #Vogtle
In Southern's SEC/10Q filing yesterday, the company disclosed that there is a disagreement b/t Georgia Power & the public power companies building #Vogtle over how to divvy up paying for the nuclear plant's rising costs.
Yes, we've seen this movie before: subscriber.politicopro.com/article/eenews…
Read 9 tweets

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