	southern so to take charge on vogtle cost southern co said it will take an after tax charge of mln dlrs against ings no later than january because the projected cost of the vogtle nuclear power plant has risen abover the amount which retail customers in georgia will be asked to pay the company s largest subsidiary georgia power co said the budget for the plant has increased by pct or mln dlrs to billion however because of a pledge the made last year to georgia s public service commission the increased cost will not be included in the utility s retail electric rates geogia power also said its board has delayed the scheduled completion of vogtle s unit two to june from september unit two is about pct complete it added the utility said fuel loading has been completed at unit one and the unit is being put through a series of low power tests before the nuclear regulatory commission is asked for a full power license the nuclear power plant located near waynesboro ga is co owned by oglethorpe power corp the municipal electric authority of georgia and the city of dalton georgia power said the revised vogtle budget estimate was due to several factors including additional labor costs incurred to keep the plant s first unit on schedule for commercial operation by june the new figure represents the first change in the plant s budget since august when it was estimated at billion dlrs in march the utility told georgia regulators it would cap the price of vogtle its customers would be asked to pay at billion dlrs the company s share of the then projected billion dlr total under the new budget georgia power said its share amounts to billion dlrs noting that georgia power s share of the vogtle increase is mln dlrs southern said this will result in a charge against ings of mln dlrs after taxes in addition the company said georgia power s contracts with the joint owners require the utility to buy back significant amounts of vogtle capacity during the plant s initial years of operation under terms of the cap on costs it will not attempt to recover the portion of the budget increase that applies to the buybacks this bings the total amount that must be charged against ings to mln dlrs after taxes southern said southern said new rules of the financial accounting standards board which are effective in january require any costs that are determined nonrecoverable to be charged against ings once that determination is made the company also said its board has approved a capital budget of billion dlrs in including work on the vogtle project it said a billion dlr capita budget for the three year period was also outlined at the board meeting noting this is mln dlrs below the comparable figure for the years reuter 
