Vogtle Units No. 3 and No. 4 Construction Project (Tables)

3 Months Ended

Mar. 31, 2023

Vogtle Units No. 3 and No. 4 Construction Project

Schedule of Project Budget and Actual Costs

The table below shows our project budget and actual costs through March 31, 2023 for our share of the project.

	(in millions)
	Project Budget		Actual Costs at March 31, 2023
Construction Costs (1)	$	6,559	$	6,286
Freeze Capital Credit (2)	(532)		—
Financing Costs	2,038		1,844
Subtotal	$	8,065	$	8,130	(3)
Deferred Training Costs	47		47
Total Project Costs Before Contingency	$	8,112	$	8,177
Oglethorpe Contingency	$	3	$	—
Totals	$	8,115	$	8,177
(1) Construction costs are net of $1.1 billion we received from Toshiba Corporation under a Guarantee Settlement Agreement and $99 million in cost sharing benefits associated with the Global Amendments to the Joint Ownership Agreements.
(2) As described below, we exercised the tender option to cap our capital costs at the EAC in VCM 19 plus $2.1 billion, the freeze tender threshold. The freeze capital credit reflects our share of budgeted amounts that exceed this threshold.
(3) At March 31, 2023, approximately $200 million relates to costs that exceed the tender option threshold that is the subject of litigation between us and Georgia Power.