8-KOther Events

SOUTHERN CO 8-K Report (Jul 1, 2004)

Filed July 1, 2004For Securities:SOSOJESOJFSOJCSOJDSOMN

Summary

This 8-K filing from Southern Company (SO) on July 1, 2004, primarily concerns Georgia Power Company, a subsidiary, filing a request for an approximate 7% increase in retail revenues with the Georgia Public Service Commission (GPSC). This request, effective January 1, 2005, is based on a future test year and seeks a retail return on common equity of 12.5%. The current rate order expires on December 31, 2004, and mandates a filing for a general rate case on this date. The requested increase aims to offset rising costs related to purchased power, operations and maintenance, environmental compliance, and ongoing investments in infrastructure to support growth and reliability.

Key Highlights

  • 1Georgia Power Company filed a request on July 1, 2004, for an approximate 7% increase in retail revenues.
  • 2The proposed rate increase is expected to be effective January 1, 2005.
  • 3The request is based on a future test year ending July 31, 2005, and a proposed retail return on common equity of 12.5%.
  • 4Georgia Power's current three-year retail rate order expires on December 31, 2004.
  • 5The requested increase is intended to cover higher costs for purchased power, operating and maintenance, environmental compliance, and capital investments.
  • 6Georgia Power anticipates capital expenditures exceeding $5 billion over the next five years.
  • 7The GPSC is expected to issue a final order in December 2004, with the outcome currently undetermined.

Frequently Asked Questions

The main purpose is to report that Georgia Power Company, a subsidiary of Southern Company, has filed a request for a retail rate increase with the Georgia Public Service Commission (GPSC).

Georgia Power is requesting an approximate 7% increase in retail revenues, which is proposed to be effective January 1, 2005.

The company cites higher costs for purchased power, operating and maintenance expenses, environmental compliance, and the need to fund continued investments in new generation, transmission, and distribution facilities to support growth and ensure reliability.

Georgia Power expects the GPSC to issue a final order regarding this rate request in December 2004. The final outcome is not yet determinable.