Ga. utility to discuss financial risk-sharing plan

ATLANTA (AP) - Georgia Power will soon explain how it could be stung by a proposal meant to help control costs during the construction of two more nuclear reactors proposed for Plant Vogtle.

The subsidiary of the Atlanta-based Southern Co. must explain its case Wednesday in filings to the state's Public Service Commission, which regulates utilities. Utility regulators are considering a plan that would trim Georgia Power's earnings if the cost of building the new reactors at the power plant near Waynesboro runs over budget. The company could also earn more money from those reactors if construction costs are kept under budget.

The commissioners have asked Georgia Power to explain how that proposal would affect the publicly traded company's financial disclosures. The PSC has set an Aug. 2 vote on the issue.

(Copyright 2011 by The Associated Press. All Rights Reserved.)