Georgia Public Service approves nuclear plant construction costs

Atlanta, February 13, 2012 — Georgia Power, a unit of Southern Co. said that the Georgia Public Service Commission in a 5-0 vote approved Georgia Power's spending on Plant Vogtle units 3 and 4 for the period including Jan. 1, 2011 through June 30, 2011.

The construction costs of Vogtle units 3 and 4 are monitored by the PSC via monthly filings and construction monitoring reports filed every six months.

Moreover, Georgia Power expects to provide customers up to $1 billion in benefits from Department of Energy loan guarantees and production tax credits and by recovering financing costs during construction. Southern Nuclear is set to begin full-scale construction of two nuclear power units.

February 9, the Nuclear Regulatory Commission affirmed a decision directing the NRC staff to proceed with issuance of the combined construction and operating licenses for units 3 and 4.

Receipt of the COLs today allows full construction to begin on the units, with Unit 3 on track for operation in 2016 and unit 4 in 2017. Georgia Power serves 2.4 million customers in all but four of Georgia's 159 counties.

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