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Wednesday, December 15, 2010 - 10:08am

Groups Oppose Georgia Power Rate Hike

Next week state regulators will vote on whether to grant Georgia Power a rate hike request which could mean $15 more on monthly electricity bills. But first, some groups have banded together to make a last ditch effort to get that cut in half.

Some business and consumer groups will go before the Public Service Commission Thursday and argue for their alternative plan.

It cuts the amount Georgia Power would be allowed to profit. John Coffman with the AARP says the currently proposed 11 percent return on equity rate is too much.

"Georgia Power company would be allowed to earn one of the highest levels of profits that any electric company has been approved to earn any where in the last year in the United States," says Coffman.

The alternative plan would let the company earn around 10 percent, which Coffman says would be more in line with the rest of the nation. That would have customers paying about $8 more each month rather than $15.

Whatever increase commission members do grant, it will be staggered over the next three years.

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