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Georgia Power seeks to raise earnings

3:47 PM, Nov 17, 2013   |    comments
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ATLANTA (AP) - Georgia Power wants to earn more money off its investments in the electricity system, an issue that state regulators must soon decide.

The Southern Co. subsidiary is now allowed to earn an 11.15 percent return on every dollar its shareholders invests in an electricity system serving nearly 2.4 million customers. It wants permission to raise its target level of return to 11.5 percent.

Georgia Power is a monopoly, and its rates are set by the Public Service Commission. The utility says it needs to raise its earnings to attract investment for construction.

An accountant hired by regulators, Ralph Smith, says the earnings rate should be set at 10 percent.

The elected members of the PSC are expected to vote on the issue in December.

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