Moody's: Settlement positive for Georgia Power

Moody's Investors Service said it views the recently filed rate settlement as part of Georgia Power's rebuttal testimony with the Georgia Public Service Commission in its pending rate case as supportive of credit quality.

The settlement with the commission staff and a group of commercial customers includes the implementation of a three year alternate rate plan beginning Jan. 1, 2011, Moody's said.

Although the settlement does not include the adjustable cost recovery tariff requested by Georgia Power, it does allow the company to request an interim cost recovery tariff if its projected return on equity falls below 10.25%, the agency said.

Moody's said it views both the alternate rate plan and the return on equity levels included in the settlement as credit supportive.

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