Georgians to see yet another rate hike from Ga. Power, thanks to the PSC

Secure your pocketbooks Georgians as a new rate increase from Ga. Power is fast approaching thanks to the failings of the PSC

Like a proud parent announcing the recent birth of the new edition to the family,  Georgia Power just announced that its third reactor at Plant Vogtle, located in Burke County, has reached full capacity and could reach full electrical output any day now. 

Georgia Power wants Georgians to swoon over its latest addition to a growing family of reactors, but the ‘billion dollar’ question swirling for Georgians is who will pay for their latest addition that is seven years behind schedule and 17 billion dollars over budget? 

Georgia electric customers have already paid billions, and state regulators will ultimately decide if they’re on the hook for billions more.

During the next several months, the Georgia Public Service Commission will decide who is the parent of this boondoggle and whose responsibility it will be to pay for the increase in costs for the project. Heaven help Georgians as the PSC has never sided with ratepayers. 

For decades, Georgia Power had its first two reactors generating electricity. In 2009, they convinced the Georgia Public Service Commission (PSC) to approve two more, promising that the cost of the third and fourth reactors would only be $14 billion. 

At last check, the two reactors are now on track to cost the owners close to $35 billion. Georgia Power is looking to pass this cost onto the backs of Georgia ratepayers in the form of their latest rate hike request. 

Agencies that have been tracking this project, along with its delays and cost overruns, suggest that each customer of Georgia Power and their respective households could be on the hook for an average of $400 more a year in rate increases. This is on top of the rate increase the PSC approved for Georgia Power last month and the rate increase approved in December 2022, which went into effect in January 2023.

Many feel that the Ga Public Service Commission has lost its way, saying that the government agency has been off course for years in terms of its mandate to protect Georgians. 

Instead, the five-member commission is seen as a rubber stamp for any and everything that Ga. Power has requested over the past several years with little to no dissension in their approvals for the power company. Unfortunately, the persons on the hook for paying the price for these rate increases are Georgians.

All Georgia ratepayers should be concerned with the decisions being made within this government agency. Rate increases do not know the political party, race, or what part of the state you live in. It will negatively impact all ratepayers the same way. Working Families, Seniors, and Veterans will be harmed the most as they will be forced to figure out how to make these projected increases work within their limited budgets that should be focused on keeping a roof over their heads, food on their table, and paying for medication. Having to deal with inflation and the unstable price points for other consumer goods makes the timing of this impending rate increase even more difficult.

Similar to past rate increase requests, the Georgia Public Service Commission will hold several meetings to give ratepayers the chance to voice their opinion before a decision is made, but many see these meetings as a waste of time. They point to the commission already having their minds made up and are only holding public meetings to placate the public for the moment until they take their votes, which will follow past votes that are in favor of Georgia Power’s request. 

Some lawmakers at the capitol see the problem and are trying to throw a lifeline to Georgians in the form of legislation. A bipartisan resolution urging the Public Service Commission not to pass on the cost to consumers has been sponsored by Representative Becky Evans. 

Rep. Evans said, “Georgia Power customers should not have to pay that burden. Georgia Power shareholders should be paying that burden.”

It is projected that almost every electric customer in Georgia will end up paying for Plant Vogtle. Georgia Power currently owns 45.7% of the reactors while smaller shares are owned by Oglethorpe Power Corp. 

Instead of marching down to a meeting to voice an opinion to commissioners that would rather check their emails instead of look at you while you speak, ratepayers should use the power of the ballot to elect commissioners that will speak for them and return the PSC to its mission of helping Georgians instead of big businesses. 

Tricia Pridemore, who chairs the elected Public Service Commission of five Republicans, is up for re-election next year. 

Two other PSC races that were removed from the November 2022 ballot are waiting for court rulings to determine when it can be rescheduled. 

Patty Durand and Shelia Edwards, two Democratic candidates, are waiting to take on the Republican incumbents who were allowed to remain in their seats until the courts decide on how the positions should be elected, by district or statewide. 

When the elections are scheduled, Georgians can use the power of their vote to bring about the changes they desire at the PSC because talking to them will not work.

Georgia Power and its parent company, Southern Co., both believe the reactors are a triumph. Southern Co. CEO Chris Womack says Vogtle is “absolutely” a success as he suggests it will provide reliable power and cheap fuel costs that will benefit the utility’s 2.7 million customers for decades. 

Some are asking how Womack could say this with a straight face as the billions in cost will be on the backs of ratepayers for decades, if not longer. Buckle up Georgians, we are in for a bumpy ride.