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The increased operating margin was offset by lower operating revenues from late payment fees in 2005 resulting from an increase in the minimum balance (from $10 to $30) on which SouthStar is allowed to charge a late fee in accordance with new GPSC regulations. Greater retail spreads on natural gas sold were offset by lower revenues due to lower usage in 2005 compared to 2004 as a result of warmer than normal weather in 2005 and decreased late payment fees resulting from an increase in the minimum balance (from $10 to $30) on which SouthStar is allowed to charge a late fee in accordance with new GPSC regulations. On June 10, 2005, AGLC announced that it had reached a settlement agreement with the GPSC concerning a general rate case originally filed by AGLC in October 2004. |
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