Georgia Power cuts request for rate increase

Georgia Power has tentatively agreed to cut its proposed rate hike by roughly 40 percent, according to a deal reached Monday between the Atlanta-based utility and staff members of the Georgia Public Service Commission.

The deal must be approved by the PSC.

According to the proposal, the utility would cut its three-year, $1.46 billion rate increase to $873 million.

Instead of paying $7.84 more a month starting in 2014, residential consumers would pay an estimated $2.19 a month.

That amount would increase in 2015 and in 2016.

The Atlanta Journal-Constitution has contacted Georgia Power for comment.

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