Georgia Power seeks rate hike |
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Fri, 29 Jun 2007 20:34
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ATLANTA (AP) - Customers of Georgia Power could see higher electric bills next year.The company on Friday asked the state Public Service Commission for a $406 million rate increase, a jump of 7 percent. The increase means an average household would pay $6.67 more per month, hiking a typical bill from $94.55 to $101.22Georgia Power, which is operated by Southern Company, asked for the increase to offset the costs of a capital plan that would put in place costly new environmental controls on its coal-fired power plants.'We are complying with the new federal and state environmental rules that require us to further reduce our emissions,' Mike Garrett, President and CEO of Georgia Power, said in a statement.'These rules will require significant investments and we are asking the PSC to allow us to recover these costs.'The proposed increase would take effect January 2008. It would last one year unless the company and the PSC agree to a timetable that would phase in more modest rate increases over several years.In addition to the environmental controls, the rate hike would fund new transmission lines and a new metering system.The PSC has six months to act on the rate request.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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