I’m a fan of the Georgia Public Policy Foundation, but I’m disappointed after reading their assessment of SB 31.
They claim that the real risk is a downgrading of Georgia Power’s credit rating. However, experts that have testified before the Public Service Commission, the PSC staff bill analysis and the Fitch Group say or show that a downgrading of Georgia Power’s credit rating is unlikely and not necessarily a “worst case scenario” as supporters of CWIP claim.
The PSC staff also notes, “If and when [pre-payment] is shown to be necessary, the Commission can provide for it at that time.” So, why the need for SB 31 if the PSC already has the authority to allow pre-payment if Georgia Power winds up having its credit rating lowered (again, an unlikely scenario)?
The facts prove that this bill is bad for consumers. Myself, Erick and others against the proposal support nuclear energy, but the Public Service Commission exists for a reason and that includes making though decisions on controversial issues, as anti-America as that may sound.
I respect the GPPF, but they are off base in their assessment of the issue.