PSC cuts Savannah Electric utility rate

ATLANTA - The Georgia Public Service Commission has approved a $36.5 million yearly reduction for the 132,000 customers of Savannah Electric Power Co. <br> <br> The new rate went into effect Friday, but the utility has not yet calculated how much the average residential customer will save. <br> <br> The change reduces the company&#39;s income by 11 percent. <br> <br> Savannah Electric, a subsidiary of the Southern Co., serves a five-county area of southeast Georgia. <br> <br> Company officials were considering asking the commission to reconsider its Thursday ruling. <br> <br> The plan is designed to allow the company to earn a 12 percent return on its investment in plants and equipment. <br> <br> Savannah Electric has lowered base rates to all customers four times since its last base rate case in 1985.

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