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EXHIBIT 10.23

EMPLOYMENT AGREEMENT

        THIS AGREEMENT is effective as of November 12, 2004, ("Effective Date")
between Oglethorpe Power Corporation ("the Company") and Jami G. Reusch
("Employee"). The Company desires to employ Employee, and Employee desires to
accept employment with the Company, under the following terms and conditions.
Therefore, in consideration of Employee's employment with the Company and the
mutual promises and conditions contained in this Agreement, the adequacy of
which the parties hereby acknowledge, Employee and the Company agree as follows:

        1.    Term.    Subject to the provisions for automatic renewal and
termination as provided herein below, the term of this Agreement shall commence
on the Effective Date and shall terminate at 12:00 a.m. on December 31, 2005.

        (a)    Automatic Renewal.    On December 1, 2004, and on December 1 of
each subsequent year, the expiration date of this Agreement shall be
automatically extended for one additional year, unless on or before November 30,
2004 (for the initial term), or thirteen (13) months before the expiration of
any extended term, either Party provides to the other written notice of its
desire not to automatically renew this Agreement.

        2.    Employee's Duties.    Employee shall serve the Company in the
position of Vice President, Human Resources. Employee shall perform all duties
of this position, as assigned by the CEO, President, or the Board of Directors
of the Company (or other designee).

        3.    Compensation and Related Matters    

        (a)    Base Salary.    For all services rendered by Employee during the
term of this Agreement, the Company shall pay Employee a minimum annual base
salary of $115,000, payable in equal semi-monthly installments, less applicable
withholdings. Employee's base salary will be subject to review and possible
upward adjustment, subject to the sole discretion of the Company.

        (b)    Bonus Eligibility.    Employee will be eligible for consideration
for an annual bonus and other incentive compensation plans generally available
to other similarly situated executive or managerial employees, such as the OPC
Variable Pay Program. Such a bonus, if awarded, will be an amount determined by
the Company in its sole discretion. Employee must be employed by the Company as
of December 31st of the award year in order to receive it; however, in the event
Employee is terminated not for Cause during the last quarter of an award year,
Employee will be eligible to receive a prorated bonus based on attainment of the
applicable goals during Employee's employment. Any prorated bonus will be paid
in accordance with the Company's regular bonus payment schedule.

        4.    Termination and Severance.    

        (a)    Termination for Cause.    The Company may terminate Employee's
employment with the Company at any time if it believes in good faith that it has
Cause to do so. "Cause" shall be defined as: (a) Employee's failure to perform
his duties that causes or is likely to cause material harm to the Company or
material interference with its operations; (b) Employee's substantial, material
failure to comply with the Company's written directions or policies; or
(c) Employee's engaging in conduct that is unlawful or disreputable, to the
possible material detriment of the Company, its affiliates, its predecessors or
successors, or Employee's own reputation; provided, however, that with respect
to (a) and (b) above, Employee has been given prompt notice of the failure and a
reasonable opportunity to cure it. In the event of a termination for Cause, or
in the event of Employee's death or disability, all salary and other benefits
provided to Employee under

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this Agreement shall cease as of the date of termination except for any life
and/or disability insurance proceeds that become payable by reason of employees
death or disability.

        (b)    Termination not for Cause; Resignation with Good Reason.    The
Company may terminate Employee's employment at any time upon two weeks notice to
the Employee. In the event the Company terminates Employee's employment not for
Cause or in the event Employee resigns with Good Reason (as defined below),
Employee shall receive as severance pay the equivalent of one year of Employee's
then-current base salary, less applicable withholdings, payable in lump-sum form
(referred to as "Severance Pay"). In addition, the Company will provide the
equivalent of six months (6) medical allowance, and outplacement services to be
determined by the company. However, Employee will only receive Severance Pay if
Employee signs a form releasing all claims against the company which shall be
furnished by the Company, no later than 45 days after the effective termination
date (or within 45 days after an arbitrator determines that Employee is entitled
to such payments), and Employee does not thereafter revoke the release.

        (c)    Resignation without Good Reason.    Employee may resign his
employment at any time upon two weeks notice to the Company. In such event, if
requested by the Company, Employee shall continue to render services and shall
be paid his regular salary and receive normal benefits up to the effective date
of termination. In the event of a resignation without Good Reason, all salary
and other benefits provided to Employee under this Agreement shall cease as of
the date of termination. "Good Reason" shall be defined as: (a) a demotion or
material reduction or alteration of Employee's job title or job duties and
responsibilities inconsistent with Employee's current position; (b) a reduction
of Employee's base salary; or (c) a relocation of Employee's principal office by
more than 50 miles.

        5.    This Agreement to be Kept Confidential.    As a material condition
to this Agreement, Employee agrees not to disclose the terms of this Agreement,
without the Company's prior written permission, to anyone other than an
immediate family member, or an attorney, accountant, or other professional
advisor who agrees in advance to honor this confidentiality requirement. This
provision does not prohibit Employee from disclosing the terms of this Agreement
to the extent necessary to enforce this Agreement, nor does it prohibit
disclosures to the extent legally required by a subpoena or court order,
provided that the Company is notified in writing of such a disclosure obligation
within five (5) days after it arises. In the event that Employee violates the
confidentiality obligations of this Paragraph, the Company reserves the right to
cancel this Agreement.

        6.    Governing Law.    This Agreement shall be construed under,
governed by, and enforced in accordance with the laws of the State of Georgia.

        7.    Arbitration of Disputes.    Final and binding arbitration shall be
the exclusive remedy for all disputes between the Company and Employee regarding
the validity, interpretation, or effect of this Agreement. Any such arbitration
shall be in accordance with the procedures of the American Arbitration
Association ("AAA"). The arbitration hearing will be held before an experienced
employment arbitrator or panel of arbitrators licensed to practice law in the
state of Georgia and selected in accordance with the rules of the AAA. The forum
for such arbitration shall be Atlanta, Georgia. The party seeking arbitration of
a dispute under this Paragraph must give specific written notice of any claim to
the other party within six (6) months of the date the party seeking arbitration
first has knowledge of the event giving rise to the dispute; otherwise, the
claim shall be void and deemed waived, even if there is a federal or state
statute of limitations which would have given more time to pursue the claim.

        8.    Notice.    Any notice required or desired to be given under this
Agreement by Employee to the Company shall be provided in writing via
hand-delivery, facsimile (with confirmation of delivery), recognized express
courier, or Certified Mail to Director of Human Resources, Oglethorpe Power
Corporation, 2100 East Exchange Place, Tucker, Georgia 30085-1359, fax number:
770-270- 7676. Any

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notice required or desired to be given under this Agreement by Company to the
Employee shall be provided in writing via hand-delivery, recognized express
courier, or Certified Mail to Employee at the address listed below Employee's
signature or at Employee's Company office. Notice shall be deemed given upon the
date of delivery. Addresses or facsimile numbers may be changed by providing
notice in accordance with this Paragraph.

        9.    Assignment and Successorship.    The rights and obligations of the
Company under this Agreement shall inure to the benefit of, and shall be binding
upon, the successors and assigns of the Company. This Agreement shall also be
binding upon and shall inure to the benefit of Employee and Employee's estate,
but Employee may not assign any of rights or delegate any duties or obligations
under this Agreement, except to the extent permitted under the Company's benefit
plans.

        10.    Complete Agreement.    This Agreement shall constitute the entire
agreement between the parties hereto with respect to the subjects addressed
herein. Any subsequent alteration or modification to this Agreement must be made
in writing and signed by both parties.

So agreed, effective as of the date written on page 1 above.

EMPLOYEE:   COMPANY:    
/s/  JAMI G. REUSCH      

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/s/  THOMAS A. SMITH      

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Date:
 
1/31/05

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Date:
 
1/31/05

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Printed Name:
 
Jami G. Reusch

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Printed Name:
 
Thomas A. Smith

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Title:
 
President and CEO

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