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The power company has done well under this commission. “We have a track record of a very conservative commission. New York is New York, and we’re down here,” said Commissioner Bubba McDonald, the sole dissenting vote. But Wall Street’s not going to tell me what to do here in Georgia. We want a high-quality grid, and that requires investment.” “We want them to serve our customers in an excellent way. There are other states that seem to be at war with utilities and having an aggressive posture. “We’re not at war with the utility here in Georgia. That profit margin issue brought the rate case to a stalemate as different parties, including the commission’s own staff, argued the company didn’t need to continue earning that amount, particularly considering it makes more than the national average for regulated utilities, and it has earned more than its allowed profit percentage in four of the last five years.Įchols said a recent visit to the investment community in New York City crystalized for him that the company needed to continue making a similar level of profit. But based on its profit structure, the company can still technically earn up to 12% in profit, roughly unchanged from its current position. The motion, put forward by Commissioner Tim Echols, set the allowed return-on-equity at 10.5%, down from 10.95%. In this proceeding, the commission also decided how much profit Georgia Power should be allowed to make, which had been a sticking point in the rate case this year. Additionally, the base service charge - which customers pay no matter how much power they use and which the company had originally requested to raise nearly $8 over three years - will now only increase $4 over three years. Rates, however, will not begin to change until 2021. Bills will rise again 2-2.5% in 2021 and an additional 4.5-5% in 2022. The average Georgia Power household is expected to see its bill rise by about $6 per month next year. The company had originally requested a $2.2 billion rate hike. The Georgia Public Service Commission voted Tuesday to raise Georgia Power customer rates by about $1.8 billion over the next three years and allowed the company to continue making up to about 12% in annual profit.