Commission approves Georgia Power rate hike

The cooling towers, right, and nuclear reactor containment buildings, left, at Plant Vogtle Nuclear Power Plant are shown in Waynesboro, Ga. Friday, June 13, 2014. (AP Photo/John Bazemore)

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Georgia Power’s rates will increase over the next three years under an agreement approved by the state’s Public Service Commission Tuesday in a 4-1 vote. The first rate hike will hit January 1, 2023, but several more bill increases will follow.

In a statement, Georgia Power CEO Chris Womack applauded the plan for supporting the state’s energy needs while “balancing affordability needs for customers.”