Georgia Power to make its case for biggest increase in consumer electric bills.
Looking back, the signs of Georgia Power’s 2004 fuel costs debacle were clear.
They were lurking in court files in Lexington, Ky., in a series of months-old bankruptcies.
They were there in the numbers describing world pig iron production and the cost of shipping cargo around Africa’s Cape Horn.
The signs were there in the world’s half-worried, half-awed speculation that China — already devouring record levels of steel and the materials needed to make it — wanted more.
Even the suddenly tidy landscapes of Siberia and Mongolia were clues: Would-be entrepreneurs had picked junked cars, abandoned factories and even perfectly good public parks clean of anything resembling the metals China craved.
Mix all that together, and it explains why Georgia Power is paying $40 million to $50 million a month more for fuel for its plants than it expected to — an unforeseeable collision of worldwide events.
That’s the scenario Georgia Power will be bringing to the Georgia Public Service Commission this month, when the commission begins hearings on the company’s request for the biggest single boost in consumer electric bills in Georgia Power history.
The other side will argue that at least some of the problem was absolutely predictable and that Georgia Power blew it closer to home.
As an attorney representing the state’s textile mills put it last month, “The hemorrhaging is in Birmingham,” where a Georgia Power affiliate makes decisions about fuel purchases.
The company is asking for an increase of nearly 40 percent in the portion of electric bills that pays for fuel for its plants, like coal, natural gas and nuclear fuel. It translates into a 10 percent increase in the average…
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