Georgia Power seeks to raise earnings - Los Angeles News | FOX 11 LA KTTV

Georgia Power seeks to raise earnings

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Associated Press

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.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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