Consumers, with the waves of price increases, will pay higher prices for electricity and natural gas bills in the coming months in a Southern state.
There is one significant reason. This is as prices do surge for natural gas that heat homes, water, stoves, and ovens. Also, utilities do rely quite a bit on burning natural gas to generate electricity.
Consumers and Electricity Rate Increase
In fact, state regulators have in fact approved an electricity rate increase for Georgia Power. This would add to the consumer burden. In fact, they consider beginning to allow some charges for construction costs. It would be at the very troubling nuclear expansion of the regional plants.
Consumers: Bills Skyrocket in Price
Thus, Georgia Power’s does move alone could hit its 2.6 million customers. It would be more than $600 million in extra costs with more to come later. However, it was typical residential electric bills that could in fact rise to $10.46 a month. Also $125.52 over a full year. Then more than a fourth of the increase is already being locking into start in January.
Bill would rise even for business customers who usually pay lower rates.
Jeffry Pollock was a witness for the Georgia Association of Manufacturers, said rate increases are never welcome. He told the Georgia Public Service Commission in a hearing and it occurred last week. Then, the timing of the nuclear charges “could not be worse.”
Paying More for Everything
Many Georgians, with the prospect of higher utility bills, are already paying more for everything. This would be for groceries to used cars. In fact, the U.S. consumer-price index rose by 5.4%. This was in September from a year prior after the pandemic has been triggering shortages in workers and goods.
The winter fuel outlook is releasing by the U.S. Energy Administration and it was not pretty.
Relying on Natural Gas
Almost half of the nation’s homes do rely on natural gas for heating. It was predicting that half the people do rely on it as well. They do spend an average of 30% more than they did a winter ago. Moreover, the increase is because of escalating natural gas prices than in fact rather than some expectations of a somewhat colder winter.