Members of the Public Service Commission were set to hear comments on the idea during a meeting Thursday. The commissioners are scheduled to take a final vote Feb. 21.
The proposal takes a carrot-and-stick approach with the electricity company.
If Georgia Power keeps construction costs on two new reactors below $5.8 billion, it would earn more money off the new reactors. If building costs exceed $6.4 billion, then regulators would lower the company's earnings.
The first reactors at Plant Vogtle were originally expected to cost $660 million. That price tag eventually grew to nearly $9 billion.