Commissioners Applaud Signing of Federal Loan Guarantee for Nuclear Power Plant Vogtle Construction Project

February 26, 2014

Commissioners Lauren "Bubba" McDonald, Jr. (R-Habersham County) and Doug Everett (R-Albany) are applauding the U.S. Energy Department's finalization of $6.5 billion in federal loan guarantees to assist Georgia Power with the construction of two new units at its Alvin W. Vogtle Nuclear Power Plant. Both Commissioners joined with U.S. Energy Secretary Ernest Moniz; Georgia Power President and CEO Paul Bowers; Chairman, President and Southern Company CEO Tom Fanning; and U.S. Congressman John Barrow, House of Representatives, 12th District of Georgia, for the formal signing ceremony at Plant Vogtle in Waynesboro, Georgia.

'There has been a lot of conversation about this loan for the past several years and we are pleased it has been finalized,' said Commissioner McDonald. 'This loan will be a great benefit to consumers and Georgia Power ratepayers. We were quite pleased that Secretary Moniz mentioned the role of this Commission in approving and monitoring the construction at Plant Vogtle,' added McDonald.

'The signing of this loan guarantee means savings for ratepayers,' said Commissioner Everett. 'This action is another positive step forward for the Plant Vogtle project,' added Everett.

Georgia Power officials say the loan will save its customers about $250 million. The utility is building two new units at Plant Vogtle alongside the existing two units in partnership with Oglethorpe Power, Municipal Electric Authority of Georgia and City of Dalton Utilities. The first unit is scheduled to begin producing electricity in December 2017.

Commissioner McDonald is in the final year of his six-year term on the Georgia Public Service Commission. He was elected in 2008. He was first appointed to the Commission in 1998 and served until 2002. Prior to serving on the Commission he spent 20 years in the Georgia House of Representatives where he chaired the Appropriations Committee for eight years. See his full bio at: http://www.psc.state.ga.us/content.aspx?c=/commissioners/lauren-mcdonald-jr/?tab=2.

Commissioner Everett is in the final year of his second six year term on the Commission. He was first elected in 2002 and re-elected in 2008. Prior to his election to the Commission, he served six years in the Georgia House of Representative and also as Mayor Pro Tem of the City of Albany. Commissioner Everett's full biography is found at http://www.psc.state.ga.us/content.aspx?c=/commissioners/doug-everett/?tab=2.

Commissioners Doug Everett and Lauren 'Bubba' McDonald, Jr. join Energy Secretary Ernest Moniz and Georgia Power County President and CEO Paul Bowers in the signing of the federal loan guarantee at Plant Vogtle in Waynesboro, Georgia
Front row left to right::Tom Fanning. Chairman, President & CEO, Southern Company
Secretary of Energy Ernest Moniz, Paul Bowers President & CEO, Georgia Power Company
Back row: Commissioner Doug Everett, U.S. Congressman John Barrow, U.S. House of Representatives, 12th District, Commissioner Lauren 'Bubba' McDonald, Jr.

For more information:

Georgia Public Service Commission

244 Washington St SW
Atlanta, Georgia
United States, 30334-9007
Tel: 404-656-4501

Bill Edge, Public Information Officer
Georgia Public Service Commission
Tel: 404-656-2316
Toll-free: 800-282-5813
E-mail: bille@psc.state.ga.us

Link http://www.electricenergyonline.com/detail_news.php?ID=471953
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