You will soon be paying more on your electric bill. Here’s why

This means the power company accepted concessions including limiting the ratepayers’ share of capital costs to $7.562 billion, much less than the $10.75 billion Georgia Power expects to have spent to bring the project to fruition.

Despite negotiations, the deal means that the typical Georgia Power customer will see their electric bill increase by about $9 a month.

“After years of hard work, we can celebrate that Georgia has access to brand new nuclear facilities that will provide carbon-free energy over the next 60-80 years,” Shaw said. “Georgia has proven once again that it is a leader in clean energy and will be better able to meet the energy capacity needs for our rapidly growing state.”

Channel 2′s Michael Seiden spoke with Georgia Power customers who told him that the price hike was not only unexpected but the last thing they wanted to hear, right now.

“Nine dollars? That’s steep. That’s steep to me,” shopper Michelle Hannah said.

“It’s less money to spend on food and rent and other utilities and things that your children need,” shopper Wanda Washington said.

Those are some of the reactions Seiden received on Tuesday after they were told their bills were going up.

“That’s very concerning and it should be concerning to everybody,” Hannah said.

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Officials say the average customer will pay about nine dollars more a month, which will help cover the costs of building new nuclear reactors at Plant Vogtle.

Liz Coyle is the executive director of Georgia Watch, a state-wide consumer advocacy organization that’s been following this project since it broke ground in 2009.

“We find that it’s a fair outcome at this point,” Coyle said. “Not only did they agree not to seek to recover certain amounts, over $2 billion, that they’ve already overspent and then any future charges, costs above that amount, they will also absorb.”

For many hard-working Georgia families, paying more for their energy couldn’t come at a worse time.

“You know with inflation, with food, with clothing, so it is difficult to try and keep up,” Hannah said.

Georgia Power says the price hike will not go into effect until the completion of that fourth reactor.

Officials estimate the project will be completed by March 31.

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