Tuesday, February 24, 2009
News Ga. Power bill would benefit shareholders first
Posted by Thomas Wheatley @thomaswheatley on Tue, Feb 24, 2009 at 2:42 PM
Most of the $1.6 billion in early financing fees that Georgia Power wants to charge customers for additional nuclear reactors would go to the company’s shareholders, and not to finance debt.State Rep. Don Wix, D-Mableton, tried and failed to amend that bill to exclude the $1 billion he estimated would flow to shareholders, if SB 31 is passed.
Georgia Power comptroller Ann Daiss later called Wix’s calculations “reasonable.”
In corporatespeak, "reasonable" translates to "oh, dammit."
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