The Georgia Public Service Commission approved a $1.8 billion Georgia Power Co. rate increase Tuesday, raising rates by 12% over three years after tweaking an agreement between the company and commission staff to give the company more of what it wanted.
The all-Republican regulatory commission voted 4-1 for the plan, after agreeing to give the company more money to build charging infrastructure for electric vehicles, adopting a lower payment rate for electricity generated by rooftop solar panels than staff had recommended, and letting the company earn more on its capital than staff had recommended.
The company had originally proposed a $2.9 billion rate increase, compared to $529 million that staff said was justified. The unit of Atlanta-based Southern Co. will get about as much as the $1.77 billion commissioners voted for in 2019.
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