Cooper lowers proposed rate increase
NASHVILLE, Tenn. (Legal Newsline) - Tennessee Attorney General Bob Cooper says an agreement he recently reached with a natural gas provider will save ratepayers nearly $5 million.
Atmos Energy Corp. had requested the approval of a $7.3 million rate increase by the Tennessee Regulatory Authority, but its agreement with Cooper will reduce that figure to $2.5 million. The TRA unanimously approved it.
"We are pleased to be able to save the Atmos ratepayers money, while allowing revenues sufficient for the company to provide quality service to Tennessee citizens and earn a reasonable profit for its shareholders," Cooper said.
"This Office will continue to monitor our state's regulated utilities to ensure Tennesseans pay fair rates."
Atmos serves approximately 129,000 customers in 12 Tennessee counties. The rate increase will go into effect April 1, with an average residential price increase of 95 cents per month.
A $671,000 portion of the increase is temporary, Cooper said, and will expire in 30 months. Cooper said this will provide larger savings after the first 30 months.
From Legal Newsline: Reach John O'Brien by e-mail at firstname.lastname@example.org.