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.