Subsequent Events

6 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events.

(i) We have executed precedent agreements with Southern Natural Gas Company, LLC (SONAT) that became effective in August 2024. The agreements provide for firm natural gas transportation needed to serve a new approximately 1,200 megawatt two-unit combined cycle generation facility to be constructed in Monroe County, Georgia and additional firm transportation to our BC Smith Energy Facility. The firm transportation is contingent upon completion of these expansion projects by SONAT. Total fixed charges over the 20-year base terms will be approximately $1,901,000,000. Our obligation to make payments begins when the pipeline expansion projects are placed into service, both of which are projected to be November 2028.

(ii) On June 7, 2024, the U.S. Court of Federal Claims entered a final judgment awarding damages to Georgia Power Company for spent nuclear fuel storage costs incurred at Plants Hatch and Vogtle during the period from January 1, 2011 through December 31, 2014. Our share of the award is approximately $39,000,000. All parties had until August 6, 2024 to appeal and no appeals were entered. The judgment must now be submitted by the Department of Justice to the Treasury Department for payment from the Judgment Fund, after which payment may be expected within thirty to sixty days. No amounts for the settlement have been recorded in our unaudited consolidated financial statements as of June 30, 2024. For additional information regarding claims seeking damages for spent nuclear fuel storage costs, see Note 1g in our 2023 Form 10-K.