Hello and welcome to Just Answer. My name is ***** ***** I will be happy to assist you with your electrical question.
1) The National Electrical Code requires that the vertical distance above grade must be a minimum of 10 feet above grade when accessible by pedestrians only. If the service drop resides over a driveway, then the minimum vertical distance is 12 feet above grade.
2) Depending upon the vertical distance, you may need to contact your local electrical utility since the overhead service wires are the responsibility of the utility and the wires may be too short to raise them to the proper height. I recommend to contact a licensed electrician and the utility and have a joint field survey between both to assess the situation.
3) In addition, you will also need a licensed electrician to install a higher riser mast with rigid metal conduit. New service entrance wires may also be required. Electrical hourly labor rates can vary across the US anywhere from $65 to $125 per hour. I recommend to contact 3 different licensed electrical contractors and obtain a firm bid quote from each. Throw out the high bid since that contractor does not know how to properly bid a job or is marking up the price too high. Pick either the middle or lowest pricing and base it on how comfortable you are with the contractor. Get a few references as well.
Ball park pricing, you're probably in the $700 range or possibly more.
Hope this helps………If you have any additional questions, let me know and I’ll be glad to answer them for you.
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The next time you have an electrical question, you can also request for me at: http://www.justanswer.com/home-improvement/expert-your-electrician ……….Thanks…………..Kevin!