Georgia Power | Regulators approve company’s new plan [Video]

ATLANTA — Georgia Power Co. got the go-ahead Tuesday to build and buy more electrical generation from the Georgia Public Service Commission, despite questions from environmentalists about the demand forecast driving the move and who say it’s unwise to let the company burn more fossil fuels.

Four of the Republican commissioners voted to approve the plan put forward by the largest unit of Atlanta-based Southern Co., while Republican Bubba McDonald abstained.

Georgia Power pledges the deal will put downward pressure on rates for existing customers.

Under an agreementnegotiated between the utility and commission staff, the company pledges it will credit $615 million a year in revenue toward future rate calculations in 2029 and later, even if all the new customers the company forecasts do not sign up. Georgia Power says that if nothing else changes, that amount of money could cut rates by …