Georgia Power to Cut Rates
(AJC) — The Public Service Commission on Tuesday approved a utility rate cut that will trim a typical Georgia Power residential customer’s bill by 64 cents a month, or $7.68 per year. The new rate will begin June 1. Georgia Power proposed the cut — totaling $43 million annually — because its costs for fueling its electric-generating plants dropped. “Fortunately, in the last year we have been blessed with I think unprecedented lower fuel costs,” commission Chairman Stan Wise said moments before his panel voted 4-1 for the rate drop. The cut is a notable departure for Georgia Power, which has raised fuel charges at least yearly for more than a decade. Rising fuel charges have been the single biggest driver behind the increases in Georgia Power’s electric bills in recent years.