Echols said he would not support the ROE or capital structure amendments out of concern that they might trigger a credit downgrade. As part of the deal, shareholders agreed to forgo any share of excess earnings from 2018 and 2019, with half the money going to customers and half the money going to pay off items. Access latest gas news and analysis, conferences and events. Wayne Co. Do not reuse text or graphics without written permission. "That keeps the company on the low side of Moody's and S&P's metrics, but doesn't drop them below it," Echols said. Georgia Power said their rates will still be below average if this increase is approved. Required fields are marked *. By 2022, these programs, along with existing demand response programs, are designed to help reduce peak demand approximately 1,600 MW, which is 10 percent of the company’s current peak demand. The company is completely removing the ash from 19 ponds located adjacent to lakes or rivers and is closing the remaining 10 ponds using advanced engineering methods and closure technologies to help ensure water quality is protected. It’s free and easy to do. The remaining 20% would go to the company. Environmental programs – Since 2013, Georgia Power has invested more than $2 billion in environmental compliance programs to meet state and federal environmental requirements. Your email address will not be published. The PSC Advisory Staff recommended rejecting Georgia Power's three-year alternative rate plan, and instead pursue a traditional rate case with a test year which, "even under the company's calculations, supports a much lower revenue requirement than what Georgia Power has submitted for its three-year ARP." Georgia Power had initially requested a $2.2 billion increase over the next three years and requested a basic service charge increase from $10 to $17.95 over the next three years. Georgia Power is dedicated to giving back to the communities we serve. “The final outcome, I would imagine, from the company’s perspective, is everything they could have hoped for,” said Georgia Watch Executive Director Liz Coyle. Entering Georgia as a Category 4 storm, it brought high winds, heavy rainfall and fallen trees that caused extensive damage as it crossed through the state, especially in Southwest Georgia near Bainbridge, Albany and Tifton. Echols argued that Georgia Power deserves a higher rate of return than other utilities because of superior performance, and said keeping the utility financially strong will benefit ratepayers because the company will be able to borrow money more cheaply. By submitting this form you acknowledge that you have read and you agree to our, You must select at least one interest to continue, You are a premium subscriber, we are unable to send you a link to reset password for security reasons., Commodity Prices and Essential Market Data, Analytics Virtual Client Seminar EMEA – Gas & Power, European Petrochemicals Virtual Conference, Quitman II Solar, 150 MW, in Brooks County, Georgia, Cool Springs Solar, 213 MW, in Decatur County, Georgia, Broken Spoke Solar, 195.5 MW, in Mitchell County, Georgia. The utility’s 2019 Integrated Resource Plan, filed in January, outlines how it proposes to continue to deliver “clean, safe, reliable and affordable energy to its 2.6 million customers over the next 20 years. In addition to leaving thousands of Alabamians without power, Hurricane Zeta has impacted cable, phone and internet providers. McDonald and commission staff each proposed a much smaller rate increase that would have been worth only $1.26 billion over the three-year period. if the 5th attempt fails, the account will be locked for 30 minutes, Please use only English characters (A-Z, a-z), You already have an account, Please log in or reset password. Georgia Power customers will see their power bills increase after the state Public Service Commission voted to approve an increase in rates this week. A final decision by the PSC is expected in December. COLUMBUS, Ga. (WTVM) - Georgia Power representatives say they have proposed a rate increase that could be impacting your wallet next year. If returns exceed that allowed level, 40% would be refunded to customers, while another 40% would be used to pay off certain items the company could otherwise ask ratepayers to pay for. State regulators approved the increase Tuesday over protests from critics who complained the rate hike … Georgia Power had originally proposed raising the connection charge to $17.95 a month, among its proposals that raised the most opposition. “We’re not at war with the utility here in Georgia,” Echols told reporters after the vote. -- Mark Watson, markham.watson@spglobal.com, -- Edited by Valarie Jackson, newsdesk@spglobal.com. Samantha joined the news team in January 2019. That's why certain 501(c)(3) organizations can apply for a Georgia Power grant. Infrastructure – Since 2013, Georgia Power has invested more than $4.1 billion in expanding transmission and distribution infrastructure, strengthening the reliability and resiliency of the electric grid, and plans to invest an additional $1.3 billion in a grid investment plan over the next three years. For more on the company’s current rate plans and payment options, visit georgiapower.com/residential. According to a news release from the Public Service Commission, Georgia Power will still collect $1.77 billion of the proposed $2.2 billion increase …