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Wednesday, December 1, 2010 - 8:44am

GA Power Proposes Price Increase

Georgia Power is calling a proposed settlement that would raise power costs a fair deal for customers, though critics want the firm to lower its profits.

The Southern Co. subsidiary wants Georgia's Public Service Commission to approve a settlement that would raise customer costs, though not as much as the firm proposed in July.

Under the settlement, electricity costs for a typical household would increase by more than $15 over the next three years. The bulk of that increase would happen the first year.

The commission plans to vote on the settlement later this month.
Skeptics told regulators Wednesday that Georgia Power could still lower its profit targets to cut customer bills.

Georgia Power agreed to ditch a request to raise its rates faster if allowable profit targets are not met.