Georgia Power has filed a request with state regulators to reduce fuel rates by 19 percent and total annual billings by about $567 million.

The company said it filed the request on Friday with the Georgia Public Service Commission.

The change would mean that power bills would decrease about $8 a month for the typical residential customer who averages about 1,000 kilowatt-hours (kWh).

The company said in a statement that the decrease in fuel costs was driven primarily by lower natural gas prices as a result of increased natural gas supplies.

Company executives say other contributing factors were lower demand for electricity, coupled with mild weather.

A public hearing will be conducted by the PSC June of this year. If approved, the new fuel rates will go into effect July 1, 2012.

Tags: Georgia Power, fuel, Georgia Public Service Commission