The “Georgia Nuclear Energy Financing Act,” amends existing Georgia law to allow a utility to recover from its customers the costs of financing associated with the construction of a nuclear plant that has been certified by the Georgia Public Service Commission. The financing charges shall accrue on all applicable certified costs as they are recorded in the utility’s construction work in progress (CWIP) accounts. The financing costs shall be based on the utility’s actual cost of debt and authorized cost of equity. The financing costs shall be recovered from each customer on an equal percentage basis. The Commission shall retain discretion when setting charges on senior or low-income assisted customers.
From the Act:
"For any nuclear generating plant certified by the commission on or after January 1, 2009, and before July 1, 2009, the utility shall begin recovering on January 1, 2011, any costs of financing the construction of the nuclear generating plant. Any such costs incurred prior to January 1, 2011, shall be accrued, capitalized, and included in the balance of the account and then amortized over the next five years following January 1, 2011, and shall be recovered with one-fifth of those deferred costs being recovered each year for five years."