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Georgia Power to cut rates

9:12 AM, Oct 17, 2012   |    comments
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ATLANTA -- Georgia Power has notified state officials of plans to reduce fuel rates starting Jan. 1.

The company said in a news release Tuesday that it is triggering a provision that requires rates be adjusted when fuel accounts are over - or under - expected targets.

Georgia Power attributes the drop in fuel costs to lower natural gas prices, which it says are due to increased supply. A mild summer also lessened demand for electricity.

Fuel rates were reduced 19 percent on June 1. The company did not specify the amount of its rate reduction or the impact on customers' bills. But it said these would be included in a Nov. 1 filing with the Georgia Public Service Commission.

State law prohibits the company from earning a profit on fuel.

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