Deal would lower earnings target for Georgia Power

10:16 PM, Nov 18, 2013   |    comments
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ATLANTA (AP) - A preliminary agreement calls for Georgia Power to accept a lower return on shareholder investments and ditch a proposal to charge special rates for rooftop solar power.

The Southern Co. subsidiary reached a tentative deal Monday with Georgia utility regulators to set its rates through 2016. The agreement must still be approved by the elected members of the Public Service Commission.

The agreement would lower the return that Georgia Power shareholders get when they invest in the electricity system. It would decline to 10.95 percent from 11.15 percent.

Utility officials also agreed to drop a proposal to charge special fees against solar power users. Georgia Power had said that its customers using solar power were not paying their fair share of the cost of running the electrical grid.

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