In December the Georgia Public Service Commission will not only decide on a rate hike request from Georgia Power but now the company wants an additional $37 million dollars a years for each of the next three years to pay for weather damage.
Georgia Power officials say the average annual weather damage over the past five years is $23 million but they can only collect$18 million a year. They want the Public Service Commission to raise that rate and want reimbursement for past spending.
In written testimony assistant comptroller for Georgia Power Laura Patterson and Elliott Spencer, said the level needs to be set higher to “not only cover the cost of any new storms over the next three years, but also reimburse the Company for unrecovered storm costs already incurred since the last case.”
This is in addition to the rate increase request that will mean a monthly hike of nearly $8 for the typical residential customer
Georgia Power gets guaranteed profits and nearly exclusive rights to sell power to its 2.4 million customers while operating as a monopoly.