Georgia PSC Approves Vogtle Construction Costs

Press release from the issuing company

Wednesday, August 22nd, 2012

The Georgia Public Service Commission, in a 5-0 vote, approved Georgia Power's spending on Vogtle units 3 & 4 for the period includingJuly 1, 2010, throughDec. 31, 2010.

The construction of Vogtle units 3 and 4 is monitored by the Georgia Public Service Commission via monthly filings and construction monitoring reports filed every six months. Moreover, additional tools are in place to help protect customers, including$1 billionin savings from U.S. Department of Energy loan guarantees, production tax credits and CWIP (Construction Work in Progress).

Georgia Power, a subsidiary of Southern Company, is preparing the Vogtle site in order to begin full scale construction of the first new nuclear power plants in the U.S. in more than 25 years upon receipt of a Combined Construction and Operating License (COL) from the Nuclear Regulatory Commission (NRC).

The project is moving forward toward issuance of the Vogtle COL. The company expects to receive the Vogtle COL around the end of 2011 with Unit 3 becoming operational in 2016 and Unit 4 in 2017.