Georgia Power rate hike OK

 ATLANTA - Utility regulators will allow Georgia Power to raise electricity rates for its 2.3 million customers.

The Public Service Commission voted today  on a plan from the Southern Co. subsidiary that will raise prices over three years.

Typical residential customers will see a $15 increase on their monthly bills by 2013. The commission also voted to allow Georgia Power to levy additional charges on its customers next year to repay the financing costs of expanding a nuclear power plant in eastern Georgia.

Georgia Power asked in July for one of its largest rate increases in recent history.

Outgoing Commissioner Robert Baker voted against the rate hike, saying the company's profit margins were too high given the ongoing economic slump.

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