Vogtle Units No. 3 and No. 4 Construction Project	3 Months Ended
Mar. 31, 2025
Vogtle Units No. 3 and No. 4 Construction Project [Abstract]
Vogtle Units No. 3 and No. 4 Construction Project	Vogtle Units No. 3 and No. 4 Construction Project. We, Georgia Power, the Municipal Electric Authority of Georgia (MEAG), and the City of Dalton, Georgia, acting by and through its Board of Water, Light and Sinking Fund Commissioners, doing business as Dalton Utilities (collectively, the Co-owners) are parties to an Ownership Participation Agreement that, along with other agreements, governs our participation in two additional nuclear units at Plant Vogtle, Units No. 3 and No. 4. The Co-owners appointed Georgia Power to act as agent under this agreement. Pursuant to this agreement, Georgia Power has designated Southern Nuclear Operating Company, Inc. as its agent for licensing, engineering, procurement and contract management. Georgia Power placed Unit No. 3 in service on July 31, 2023 and placed Unit No. 4 in service on April 29, 2024. Our ownership interest and proportionate share of the cost to construct Vogtle Units No. 3 and No. 4 is 30%, representing approximately 727 megawatts of nameplate capacity, as constructed. As of March 31, 2025, our actual costs related to the new Vogtle units were approximately $8.3 billion, net of $1.1 billion we received from Toshiba Corporation under a Guarantee Settlement Agreement and approximately $437 million we received from Georgia Power pursuant to the cost-sharing provisions in a settlement agreement with Georgia Power. We estimate that our proportionate share of remaining additional capital costs to be incurred on the project through the end of 2025 to be $10 million to $15 million. For additional information regarding our participation in Plant Vogtle Units No. 3 and No. 4, see Note 8 in our 2024 Form 10-K. Plant Vogtle Unit No. 3 and No. 4 Production Tax Credits For the three months ended March 31, 2025, we sold Georgia Power approximately $24,424,000 of nuclear production tax credits ("NPTCs"), earned by us pursuant to Section 45J of the Internal Revenue Code and recognized the amounts as credits to the Production expense line item within our consolidated statements of revenues and expenses. In 2024 and 2023, since Plant Vogtle Units No. 3 and No. 4 were placed in service, we sold Georgia Power approximately $72,600,000 and $21,700,000, respectively, of nuclear production tax credits.

Vogtle Units No. 3 and No. 4 Construction Project

3 Months Ended

Mar. 31, 2025

Vogtle Units No. 3 and No. 4 Construction Project [Abstract]

Vogtle Units No. 3 and No. 4 Construction Project

Vogtle Units No. 3 and No. 4 Construction Project. We, Georgia Power, the Municipal Electric Authority of Georgia (MEAG), and the City of Dalton, Georgia, acting by and through its Board of Water, Light and Sinking Fund Commissioners, doing business as Dalton Utilities (collectively, the Co-owners) are parties to an Ownership Participation Agreement that, along with other agreements, governs our participation in two additional nuclear units at Plant Vogtle, Units No. 3 and No. 4. The Co-owners appointed Georgia Power to act as agent under this agreement. Pursuant to this agreement, Georgia Power has designated Southern Nuclear Operating Company, Inc. as its agent for licensing, engineering, procurement and contract management.

Georgia Power placed Unit No. 3 in service on July 31, 2023 and placed Unit No. 4 in service on April 29, 2024.

Our ownership interest and proportionate share of the cost to construct Vogtle Units No. 3 and No. 4 is 30%, representing approximately 727 megawatts of nameplate capacity, as constructed. As of March 31, 2025, our actual costs related to the new Vogtle units were approximately $8.3 billion, net of $1.1 billion we received from Toshiba Corporation under a Guarantee Settlement Agreement and approximately $437 million we received from Georgia Power pursuant to the cost-sharing provisions in a settlement agreement with Georgia Power. We estimate that our proportionate share of remaining additional capital costs to be incurred on the project through the end of 2025 to be $10 million to $15 million.

For additional information regarding our participation in Plant Vogtle Units No. 3 and No. 4, see Note 8 in our 2024 Form 10-K.

Plant Vogtle Unit No. 3 and No. 4 Production Tax Credits

For the three months ended March 31, 2025, we sold Georgia Power approximately $24,424,000 of nuclear production tax credits ("NPTCs"), earned by us pursuant to Section 45J of the Internal Revenue Code and recognized the amounts as credits to the Production expense line item within our consolidated statements of revenues and expenses. In 2024 and 2023, since Plant Vogtle Units No. 3 and No. 4 were placed in service, we sold Georgia Power approximately $72,600,000 and $21,700,000, respectively, of nuclear production tax credits.