City of Albany Preparing for End of MEAG Credits
Monday, January 19th, 2015
High-ranking officials in the Albany government do not exactly agree on the effectiveness of the use of some $53.3 million and counting in credits returned to the city’s Water, Gas & Light Commission over the past six-plus years, but all are of the same accord when it comes to one issue: the urgency in preparing for the end of the windfall.
Since January of 2009, the Municipal Electric Authority of Georgia — a collective of some 48 municipal and one county utilities distribution systems in Georgia that supply wholesale electric power to more than 600,000 consumers — has been returning millions of dollars in credits to Albany’s WG&L. That money was collected by MEAG years before as a hedge against federal deregulation of electrical power, action that was never taken.
