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Georgia Power wants more of your money to pay for its bad bets

It’s the annual Georgia Power rate hike, blaming everything except coal and nukes.

Georgia Power PR 28 June 2013, Georgia Power seeks cost recovery for infrastructure investments,

Georgia Power today asked the Georgia Public Service Commission (PSC) for permission to increase its base rates approximately $482 million, or 6.1 percent. The request is being made to allow the company to recover the costs of recent and future investments in infrastructure —including environmental controls, transmission and distribution, generation, and smart grid technologies — required in order to maintain high levels of reliability and superior customer service.

The proposed change in rates would be effective Jan. 1, 2014.

What a coincidence! One year to the month after the last rate hike. Once again blaming “smart grid technologies, environmental controls”, etc. Much more likely, this has to do with the recent downgrades of Georgia Power’s parent the Southern Company, and those were for coal and nukes. As Adam Smith said two centuries ago, “utilities levy an absurd tax upon the rest of their fellow citizens”.


Southern Company downgraded because of coal and nukes –two analysts

It’s not like they weren’t warned, about coal and about nukes. It’s not Standard & Poor’s this time, but that could happen soon, too. SO’s biggest part, Georgia Power, is neck-deep in nukes, as Edison Electric Institute’s warning about the disruptive challenge of distributed solar starts to affect its parent’s stock price.

Zacks.com wrote 21 June 2013, Southern Company Slips to Sell – Analyst Blog

On Jun 20, Zacks Investment Research downgraded electric utility firm, Southern Company ( SO ), to a Zacks Rank #4 (Sell).

Why the Downgrade?

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