Georgia Power plans electricity rate decrease for 2013

Utility Georgia Power recently announced that its customers will be paying less for their electricity in 2013 thanks to a comparatively cool summer and lower natural gas prices, the Ledger-Enquirer reports.

According to the media outlet, the utility has customers throughout the state, and that it plans to submit its "voluntary" filing with the Georgia Public Service Commission on November 1. Once submitted, the PSC will have 30 days to review the proposal and make a decision.

"The continued drop in fuel costs is primarily driven by lower natural gas prices due to increased natural gas supplies," Georgia Power said in a news release on Tuesday. "Other contributing factors were lower demand for electricity, resulting from the milder than normal summer weather."

However, the media outlet stated, customers of Georgia Power may need to soak up the savings while they can. Although the mild winter has brought prices down around the country, the U.S. Energy Information Administration projects more natural gas, heating oil and electricity use this winter will send electricity rates back up.

Fortunately, residents living in deregulated states will still have the ability to search for the best electricity rate in any given region.