One of the owners of a nuclear power plant being expanded in Georgia says it’s shifting overruns to Georgia Power Co. in exchange for giving up a sliver of its ownership.
Oglethorpe Power Corp. which provides power to 38 electric cooperatives, said Saturday that it has exercised a contractual option to freeze its costs for Plant Vogtle at $8.1 billion.
Oglethorpe Power said it would save members at least $400 million. In exchange, Oglethorpe’s ownership share of the two new reactors being built at the plant east of Augusta would fall from 30% to 28%. That would bump Georgia Power’s share of ownership from 45.7% to 47.7%.
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