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. Rep. John Barrow (D-Augusta) for the formal signing ceremony Thursday at Plant Vogtle in Waynesboro.
“There has been a lot of conversation about this loan for the past several years and we are pleased it has been finalized,” said 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.”
Said Everett: “The signing of this loan guarantee means savings for ratepayers. This action is another positive step forward for the Plant Vogtle project.”
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.
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.
Everett is in the final year of his second six-year term on the PSC. He was first elected in 2002 and re-elected in 2008. Prior to his election to the commission, he served six years in the state House of Representative and also as mayor pro tem of Albany.