Action Alert: SB 31 Threatens Georgians Energy Future

protectgeorgia.net

Tuesday, September 07, 2010

SB 31 Threatens Georgians Energy Future

You can take action on this alert by reading the information below and following the directions at the bottom.

Issue

SB 31 guarantees Georgia Power higher rates of return for years by paying all the financing costs of a power plant for which no final cost is known.

Background

Georgia Power wants to spend several years building a very expensive nuclear power plant but does not want to bear any of the risk associated with financing its construction. Georgia Power wants the legislature to require its customers to bear the risk of this costly financing, for which they receive nothing until the plant is built, with no guarantee on a completion date, or a final cost of the plant. GA Power thinks it knows how to best use its customers money. SB 31 writes a blank check from Georgia Power customers for years; money those customers could be using to buy more efficient appliances and to insulate their houses.

The Senate is voting on SB 31 at 10 am on Tuesday, February 10. Please call your Senator today to tell him or her to vote NO on SB 31, a bill that is simply not needed to assure Georgia's energy future.

Your message will be sent to each of the following targets:

Your State Senator

A sample message appears below, which you may edit before sending.

Vote NO on SB 31

Dear Senator,
(Click SEND MESSAGE for your Senator's phone number.)

Call your Senator and ask that they vote NO on SB 31 because:

-SB 31 pre-empts the pending decision on utility financing being made by experts at the Georgia Public Service Commission.

-SB 31 gives Georgia Power Company a blank check for any and all financing charges for new nuclear power plants.

-SB 31 guarantees Georgia Power the right to collect from its customers 100% of its financing costs of expanding Plant Vogtle even though they cannot say how much the plants will cost, or if they will be built on time, or even if they will be built at all.

-Georgia Power Company keeps the customers' money no matter what happens to the power plants.

-SB 31 removes any incentive for Georgia Power to keep tight control over construction costs because the customers bear all the risks of inflation.

-Georgia Power actually makes more money under SB 31 than they can if they manage construction costs as if they were competing in a free market.

-SB 31 is an incentive to waste ratepayers money; money that could be used to invest in energy efficiency and more environmentally sustainable low-carbon technologies.
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