Georgia
Co-owners sue Georgia Power in $695M Vogtle contract dispute
ATLANTA – The homeowners of a majority share of a nuclear energy plant being expanded in Georgia are suing lead proprietor Georgia Energy Co., claiming the corporate is making an attempt to bilk them out of practically $700 million by unilaterally altering a contract.
The lawsuits, filed in latest days in state court docket in Atlanta by Oglethorpe Energy Corp. and the Municipal Electrical Authority of Georgia, lay out the clearest model but of a contract dispute that is been simmering for months.
At situation are the billions in price overruns for a 3rd and fourth nuclear reactor being constructed at Plant Vogtle, east of Augusta. If Oglethorpe and MEAG win, it may maintain down payments for the tens of millions of consumers of electrical cooperatives and municipal utilities in Georgia, in addition to for patrons of JEA, the municipal utility in Jacksonville, Florida, and for some Alabama cooperative and municipal utility prospects.
If Georgia Energy loses, the shareholders of its guardian, Atlanta-based Southern Co., would most definitely have to soak up extra losses. The corporate has mentioned it is unlikely that its regulator, the Georgia Public Service Fee, will let Georgia Energy cost prospects above a certain quantity for Vogtle.
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Oglethorpe and MEAG say a choose ought to implement the contract and order Georgia Energy to repay disputed quantities, plus curiosity and attorneys charges. They are not making an attempt to cease completion of the Vogtle models east of Augusta.
“Regardless of its solemn, written promise to just accept elevated duty for price overruns over the brink, Georgia Energy has fairly merely reneged. The time has come for Georgia Energy to honor its settlement,” MEAG’s attorneys wrote within the Fulton County Superior Courtroom lawsuit.
Georgia Energy spokesperson Jacob Hawkins mentioned the corporate hasn’t seen the lawsuit and “will proceed to interact with our co-owners productively.”
On Tuesday, JEA despatched News4JAX an announcement saying, “We assist the MEAG stance and stay up for a decision.”
At situation is a 2018 deal. Oglethorpe threatened to again out except it was protected against further overruns. As a result of Oglethorpe’s 38 cooperatives and MEAG’s 49 municipal utilities do not have shareholders, in contrast to Georgia Energy, there isn’t any one to soak up overruns besides electrical prospects.
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Georgia Energy owns 45.7% of the 2 reactors, in comparison with Oglethorpe’s 30% and MEAG’s 22.3%. The town of Dalton’s utility owns the remaining 1.6% and hasn’t sued.
Georgia Energy agreed that above a sure level, it could pay 55.7% of the subsequent $800 million in building prices, after which 65.7% of the subsequent $500 million. These further contributions whole $180 million. After that, the co-owners can require Georgia Energy to cowl all remaining overruns. In trade, the co-owners would promote a part of their possession shares to Georgia Energy.
Oglethorpe and MEAG say the settlement prompts as soon as shared building prices rise $2.1 billion above $17.1 billion. That does not rely financing prices and another prices. Related Press calculations present the reactors will price at the very least $30.34 billion general.
Oglethorpe and MEAG say Georgia Energy ought to already be paying increased shares of building prices underneath the settlement. Oglethorpe introduced on Saturday that it’s going to freeze its prices and drive Georgia Energy to pay further overruns in trade for a part of Oglethorpe’s possession, saving Oglethorpe a projected $400 million.
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However Georgia Energy says the bottom building price ought to be $18.38 billion and that the settlement would not kick in till shared prices attain $20.48 billion. If Georgia Energy can elevate all of the thresholds within the settlement by $1.3 billion, the opposite homeowners must pay an additional $695 million.
Southern Co. has acknowledged it must pay at the very least $440 million extra to cowl what would have been different homeowners’ prices, saying different quantities are in dispute.
Georgia Energy has additionally argued that COVID-19 was an act of God that drove up prices and delayed work, and it shouldn’t need to pay for that slowdown, though that declare is barely talked about within the lawsuits.
Oglethorpe and MEAG say Georgia Energy has continued to invoice them for the unique shares of the development prices in latest months, and never diminished shares. Months of personal talks previous the lawsuits produced no settlement.
Vogtle is the one nuclear plant underneath building in the USA. Its prices and delays may deter different utilities from constructing such vegetation, although they generate electrical energy with out releasing climate-changing carbon emissions.
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When Vogtle was permitted in 2012, the reactors have been estimated to price $14 billion, with the primary electrical energy being generated in 2016, in comparison with 2023 now.
Copyright 2022 The Related Press. All rights reserved. This materials will not be revealed, broadcast, rewritten or redistributed with out permission.
Thanksgiving dinner costs are on dropping for second year in a row
For the second year in a row, the cost of buying Thanksgiving dinner has decreased, according to the American Farm Bureau Federation.
Helen, a town in Georgia, has been voted as the top Thanksgiving road trip destination for families in Georgia. Helen has also earned a spot in the top 5 destinations in the country.
This was revealed by a recent survey conducted by Gunther Motor Company. The survey, which polled 3,000 families, aimed to uncover the most sought-after Thanksgiving destinations for a 2024 road trip.
The survey found that families are looking for a quick and memorable road trip that blends the holiday’s festive spirit with a rare moment to relax and recharge.
“The drive to Helen offers plenty of pull-offs and overlooks, especially at spots like Unicoi State Park, where families can stop for hiking or a picnic beside tranquil lakes,” the study wrote. “Helen itself is known for its Bavarian architecture, but nearby towns like Sautee-Nacoochee and Clarkesville provide additional scenic beauty and history.”
What are the top five Thanksgiving destinations in the U.S.?
- Hāna, Maui, Hawaii
- Ducktown, Tennessee
- Helen, Georgia
- Estes Park, Colorado
- Summerhaven, Arizona
What are the other Thanksgiving destinations in Georgia?
- Ranked No. 52: Tallapoosa
- Ranked No. 55: Clayton
Multiple sources are telling us this evening that Georgia Labor Commissioner, Bruce Thompson, has lost his battle with cancer.
I first met Bruce Thompson when he decided to seek the 14th Georgia State Senate District to succeed Barry Loudermilk, which would make him my State Senator. He was straight to the point. No pretense. He knew a lot about what he knew, and wasn’t afraid to say he didn’t know about what he didn’t. I instantly liked him.
Originally from Montana, Bruce wasn’t shy about sharing how Christ had changed his life. He knew that his relationship with The Lord meant that he wasn’t perfect, just forgiven. And he regularly expressed his gratitude for the Grace of his Lord and Savior.
He was a devoted husband and loving father. He leaves behind his wife, Becky, and two adult children, Faith and Max. To meet his children is to understand the man, and he was very proud of them both.
In business, Bruce was a serial entrepreneur. He ran businesses that developed software, installed pool covers, and sold insurance among others. It would not be fair to say that he had the Midas touch because all Midas had to do was touch something to make it turn into gold. No, Bruce was successful because he worked hard to make everything he did a success. In fact, this is a favorite photo I have of him when someone was a no-call-no-showed on one of his work sites. He threw on some old clothes in the Georgia heat and went to work.
A couple of years ago Bruce took a bold step and announce that he was going to challenge a Republican incumbent in Georgia’s Department of Labor. Elected Republicans simply do not challenge other elected incumbents. But it was clear that change was needed at that department as COVID had exposed how bad things could get when an important agency isn’t run well. He came into that office with a sense of urgency those who knew him had come to recognize as a key trait of his personality and work ethic.
Earlier this year Bruce announced that he had been diagnosed with stage 4 pancreatic cancer. And he decided to fight with all of the same spirit and determination that had come to define so much about him. And he did it with an up-beat and positive spirit. Not too long ago I texted him to see how he was doing. He responded, “Just rocking and rolling, brother!!! Jesus is in control, and I have a darn good feeling He isn’t done with me yet!”
As I look at the legacy Bruce leaves behind, those whose lives he made better through service to them, his wife, his kids, I think Jesus is going to continue to be working through Bruce Thompson for quite a while yet. No. Jesus isn’t done with you, Bruce. Not by a long shot. Not even now. Because of what He has done through you.
Farewell, my friend. I am better for having known you.
Georgia
Georgia Tech Football: Yellow Jackets Open as 20.5 Point Underdogs vs Georgia Bulldogs in Rivalry Matchup
After beating NC State on Thursday, Georgia Tech is now 7-4 heading into their Black Friday rivalry showdown with the Georgia Bulldogs. The Yellow Jackets have not beaten Georgia since 2016, but this could be the best chance that they have had to knock off the Bulldogs since then and if they were to win, they would put a big dent in the Bulldogs playoff hopes, though they would still have a chance to win the SEC.
It is going to be a big task for the Yellow Jackets though and at Fanduel Sportsbook, Georgia Tech is a 20.5 point underdog next Friday vs Georgia and the total is set at 54.5.
Georgia Tech played Georgia almost as well as anyone did last year. Georgia won 31-23, but the Yellow Jackets were an onside kick away from getting the ball back and having a chance to tie the game up. In 2022, Key had his alma mater within six points of the No. 1 Bulldogs (13-7) in the middle of the third quarter before Georgia finally pulled away. In each of the past two seasons, Key has had this team playing better against the Bulldogs since the last time the Yellow Jackets won in 2016. In 2017, 2018, 2019, and 2021, Georgia handled the Yellow Jackets with ease, but they have had to fight for the past two seasons to put Georgia Tech away.
It will be a tall task though. Despite their losses to Alabama and Ole Miss, Georgia has one of, if not the most talented roster in the country and has not lost a home game since being upset by South Carolina in 2019.
Will Georgia Tech’s two-quarterback system work against the Bulldogs? It worked to perfection against Miami, but not so much against NC State. True freshman Aaron Philo played well and led the game-winning drive, but going into Athens as a true freshman and beating Georgia is a tough ask. Can Georgia Tech run the ball? They were able to overcome a poor performance on the ground last night, but they usually lose when they don’t run the ball well. The defense played great at times last night, but had a really bad fourth quarter and nearly let the game slip away. When Georgia has lost this season, quarterback Carson Beck has been a big reason why. Can Tyler Santucci’s defense force Beck to make mistakes?
They might not be able to beat the Bulldogs in Athens to close the season out, but this is without a doubt the best chance that they have had since they last won the game in 2016. Georgia Tech has relished being in the underdog role with Key at the helm and he is looking to pull off his biggest win yet.
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