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Q: Will the completed reactor make electricity that is lower cost, as promised?
A: Absolutely not. If the reactor is ever completed and working, it will make much higher cost electricity. The actual costs, wildly over the proposed costs, will mean higher cost electricity for customers and higher profits for the company.
Q: How can the higher costs of building the reactor mean higher profits for the company?
A: Another Georgia law insures that the company makes 12% profit on the "ratebase," so that the bigger the ratebase, the bigger the profit. Therefore, the staggering costs of building the Vogtle reactors means a bigger rate base and 12% profis on that.
Furthermore, some tests have expiration dates, and some earlier completed tests may expire and will need doing over. NRC reports Dec, 2021 that of the 399 tests, about 150, or 38% remain to be done.
Time = [doing tests yet to complete] + [retake of expired tests] + [redo work required by failed tests] + [redoing tests of failed tests] > latest 2022 online date = more months of surcharges.
Q: With the company claiming construction 99% completed, it needs only a marginal amount of money to finish things. How about they get their own money for the marginal amount of work remaining?
A: Interest rates are low. The company should get its own financing for the remaining marginal construction and do-over costs. That's what capitalist profit companies do. It is time for the reactor owners to get their construction and do-over money like other for-profit businesses: through commercial lenders, hedge funds, stock/bond issue, etc., or they could reduce bonuses and dividends to get their money.
Q: Did the law have an expiration date, that is, was there a time limit on the surcharges?
A: The years-longer ongoing surcharge situation is a perfect example of a law gone off into unintended consequences. The Law never meant for the surcharges to go on and on month after month, for years, paying for delays, mistakes, and costly do-overs. Repeal it!
Q: Is the surcharge paying for shoddy and/or incorrect work?
A: It seems so. If reactor 3 is 99% done, and they will be working on it for another year, it looks like the work is mostly re-do of earlier shoddy or incorrect construction. The company and contractors should pay for their mistakes, NOT CUSTOMERS. Surcharge was to construct, NOT to pay for re-do work on mistakes. REPEAL!
Q: Did the finance law intend for the surcharge to go on and on?
A: No. The surcharges were to end in 2016, when the company said the reactor would be finished and selling lower cost electricity to customers. The law did not intend for the surcharges to go on for years past 2016. Because the surcharges continue, a repeal of the law is needed now to stop them.
Q: How many months more of the unreasonable, unfair surcharges?
A: At least until late in 2022. Based on the pattern of ALL due dates missed, surcharges will go on longer. The only way to know for sure is to stop the surcharges by repealing the law.
FROM WSB NEWS Atlanta