Georgia Power Needs More Fossil Fuels as Electric Vehicle Plants Generate ‘Extraordinary Economic Growth’

Georgia Power is asking the state’s Public Service Commission (PSC) for permission to generate more electricity from fossil fuels on Friday, citing demand for energy that is 17 times higher than they expected in 2022.

The company cited Georgia’s “extraordinary economic growth” as “one of the fastest growing states in the country” in an update to its 2023 Integrated Resource Plan (IRP), which explained the company will need extra funding due to the “significantly increased” energy needs of businesses “bringing electrical loads at a scale” that demands additional capacity.

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Georgia Power to Pay over $400 Million to Settle Nuclear Energy Lawsuit as Rate Hikes Loom

Georgia Power Co. agreed to pay more than $400 million to settle a lawsuit on Friday, after Oglethorpe Power Corp. accused the utility company of failing to follow its financial commitments regarding maintenance of nuclear reactors at Plant Vogtle near Augusta. The company said it would take longer for the facility to become fully operational as a result, even as Georgia energy rates continue to increase.

The lawsuit was filed last year, reported The Associated Press, with Oglethorpe Power accusing Georgia Power of sticking them with nearly $700 million in additional costs by unilaterally changing a contract to make itself immune to cost overruns at the Plant Vogtle nuclear facility that is seven years behind schedule and $17 billion over budget.

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Public Service Commission Votes in Favor of Georgia Power Rate Increase

The Georgia Public Service Commission signed off on a deal the Tuesday before Christmas to allow Georgia Power to increase its rates over the next three years.

With the approval, Georgia Power plans to increase rates for its 2.7 million customers by roughly $1.8 billion over three years. The increase is down from an initial request of about $2.9 billion.

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State Residents Likely to Pay Higher Rates as Georgia Power Continues Push Toward Decarbonization

Like power companies nationwide, Georgia Power is working to “decarbonize” its power generation and has committed to adding more green energy over the next decade.

Georgia Power, a subsidiary of Southern Company that traces its origins to 1902 as an operator of streetcars in Atlanta, has more than 2.6 million customers across The Peach State, including customers in 155 of Georgia’s 159 counties.

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Georgia Power Nuclear Plant Facing More Delays

An expansion of the Georgia Power and Southern Nuclear plant in Waynesboro may be delayed once more.

Georgia Power and Southern Nuclear are building two additional nuclear energy facilities, Plant Vogtle Unit 3 and Unit 4. The project, which started in 2013, is supposed to accommodate the state’s growing population

It has been riddled with delays. Now, construction quality issues and productivity problems may lead to another three-month delay, an independent monitor said Thursday.

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