PSC approved the construction costs spent on the project between 1 July 2011 to 31 December 2011 after it monitored the spending through monthly filings and construction reports filed every six months.
The two new 1,100MW nuclear units will generate sufficient electricity to meet the power needs of about 500,000 Georgia homes and businesses.
Plant Vogtle nuclear facility is co-owned by Georgia Power, Oglethorpe Power Corporation, the Municipal Electric Authority of Georgia and Dalton Utilities each with 45.7%, 30%, 22.7%, and 1.6% respectively.
Georgia Power has invested about $6.1bn in the project and is expecting to provide its customers with about $2bn in potential benefits in the form of savings related to recovering financing costs, DOE loan guarantee, production tax credits, lower-than-forecast interest rates and lower-than-forecast commodity costs.
The construction work of the project is being supervised by Southern Nuclear, a subsidiary of Southern Company, who will also operate the two new 1,100MW AP1000 units.
The unit 3 and 4 are expected to become operation in 2016, and 2017 respectively.
