\nUnder a 2009 bill, the company can collect in advance the financing\ncosts for the two reactors it’s building near Augusta.\n<\/p>\n
\nChapman, a Brunswick Republican, says he supports the project. But\n<\/blockquote>\n\n\n
\nhe said he doesn’t want utility customers to be on the hook because\nGeorgia Power underestimated the project’s cost.\n<\/p>\n\n\u201cThere’s no incentive, if you’re going to make the same return\non equity from a cost overrun,” he said in an interview. “Georgia\nPower agreed to a certified price to build the plant. Obviously\neverything will be fully funded, but we want to eliminate the\nprofit, where they apply that profit to the cost overrun.\u201d\n<\/p>\n
\nChapman says he has concerns about the 2009 bill that allows Georgia\nPower to pre-collect the financing costs.\n<\/p>\n
\n\u201cI am against the use of government power to bring favor to a\nprivate industry, especially when it can harm the taxpayer, if you\nwill,\u201d he said.\n<\/p>\n
\nAn independent construction monitor has found the project is already\nabout $90 million over budget.\n<\/p>\n
\nIn a statement, a Georgia Power spokesman said the Public Service\nCommission has approved all costs and has said the utility is\nmanaging the project well.\n<\/p>\n
\nIn the statement, the spokesman also said, “The PSC has complete\noversight of the project and has verified and approved every dollar\nspent to date. To date, the Commission has conducted seven separate\npublic hearings (it is about to perform its 8th) in which it has\nverified and approved each dollar spent, has received reports from\nits independent monitor Dr. Bill Jacobs, and continually assessed\nthe economics of the project.”\n<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"It’s about time. -jsq Jeanne Bonner wrote for GPB today Vogtle Cost Overruns Targeted, A state lawmaker wants to prevent Georgia Power from reaping profits on cost overruns at Plant Vogtle. Rep. Jeff Chapman will file a bill Thursday that would bar the utility from making money on anything other than the certified cost of […]","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_links_to":"","_links_to_target":""},"categories":[97,142,14,8,18,2,104],"tags":[8736,712,28,8746,8704,8701,8708,8699,710,8702,12,7,711,6],"class_list":["post-140","post","type-post","status-publish","format-standard","hentry","category-activism","category-cwip","category-economy","category-georgia","category-georgia-power","category-government","category-nuclear","tag-activism","tag-boondoggle","tag-cost","tag-cwip","tag-economy","tag-georgia","tag-georgia-power","tag-government","tag-jeff-chapman","tag-lake","tag-lowndes-area-knowledge-exchange","tag-lowndes-county","tag-overruns","tag-valdosta"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p585fK-2g","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/comments?post=140"}],"version-history":[{"count":0,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/140\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/media?parent=140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/categories?post=140"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/tags?post=140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![](\"\/blog\/images\/6a0120a58214e4970b017d40d5588c970c-pi.jpg\")
<\/a>\nChapman said before writing the bill, he sent a letter to Georgia\nPower, asking the company to forego the profits.\n<\/p>\n