Georgia Power Company customers could see a 10 percent jump in their monthly electric bills come next January. The company recently filed a $1 billion rate increase request with the Georgia Public Service Commission (PSC). If approved, the phased increase would be spread over three years, with a $615 million hike in January.

If approved, the average residential bill would increase approximately $10.88, or 8.8 percent, in January and then another $5.38 in 2012 and $1.42 the following year. The total increase would be approximately $17.68 over the three year period.

Business customers would see their bills increase 7.7 percent and 10.3 percent, depending upon their rate plan.

These increases are in addition to special charges already approved by the PSC for construction of two new nuclear reactions at Plant Vogtle in Burke County. Those charges are expected to add approximately $1.30 to monthly bills in 2011, increasing to about $9 monthly in 2017.

The present increase is being requested to boost the company’s profit margin so as to help it attract investors who could pay upfront expansion costs. It is the largest requested increase in more than 20 years, but if granted, rates would still be below the national average. The company last sought a rate increase in 2007.

The GPS will begin hearings on the matter Oct. 4 with a decision on the matter expected Dec. 21.