Georgia Power Co. will pay at least $76 million to settle a lawsuit with a co-owner over who will pay for overruns at the Vogtle nuclear power plant.
The unit of Atlanta-based Southern Co. and the Municipal Electric Authority of Georgia announced a settlement Friday. MEAG represents 49 city-owned electric systems across Georgia. It also has contracts to sell electricity from Vogtle to the city-owned utility in Jacksonville, Florida, and to some electric cooperatives and city utilities in Alabama and the Florida Panhandle.
At issue are billions in cost overruns for a third and fourth nuclear reactor being built at Plant Vogtle, east of Augusta. The new reactors were originally supposed to cost $14 billion, but costs have ballooned past $30 billion, according to Associated Press calculations.
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