Georgia Power officials signed off late Wednesday on an agreement that would lower the utility’s rate hike request now before the state Public Service Commission (PSC) by nearly 40%.
The company, the PSC’s Public Interest Advocacy Staff, and intervenors in the rate case agreed on a rate hike that would raise $1.8 billion from Georgia Power customers during the next three years. The proposal will be presented to the PSC’s Energy Committee on Thursday.
Unlike the original proposal the utility submitted to the commission in June, the new agreement would not front-load the rate increase. Instead, it would lower the impact on the average residential customer during the first year to $3.60 per month, down from the original request of $14.90.
That 2.6% increase in customer bills, effective Jan. 1, would jump to 4.5% in both the second and third years.
