Georgia Power and the Public Interest Advocacy Staff of the Georgia Public Service Commission have reached a stipulated agreement in two cases originally filed with the commission in February, according to a May 12 announcement. The cases involve recovering fuel costs to operate power generation plants and storm-related costs from events such as Hurricane Helene in 2024.
The agreement, which is still subject to review and approval by the Georgia Public Service Commission later this month, is expected to result in lower rates for customers starting this summer. Typical residential customers using 1,000 kilowatt-hours per month could see monthly savings of $4.04, or nearly $50 per year beginning in June. Overall, these changes are projected to save customers about $285 million annually by lengthening the recovery period and leveraging additional production tax credits.
“We know that our customers depend on us to keep their power reliable and affordable every day, and to be ready to restore power safely and quickly following devastating storms like Hurricane Helene,” said Tyler Cook, CFO and treasurer for Georgia Power. “Thanks to the hard work and diligence of our teams, the Georgia PSC PIA Staff, and many others involved in this open process over the last several months, we expect to be able to provide significantly more savings than we anticipated in February when we filed these cases. Lower rates mean real savings for Georgia families and businesses as the heat of summer begins which can lead to higher bills.”
Georgia Power has provided energy at rates below the national average since 1990 while offering flexible rate plans for both residential and business customers. The company says that growth from new residents as well as large-load customers such as data centers has allowed it not only to freeze base rates earlier but also spread fixed costs across a broader customer base—protecting residential and small business users.
Looking ahead, company officials have committed that typical residential customers will receive annual savings of $102 beginning in 2029 due largely to continued customer growth. Information about how Georgia Power works toward keeping energy reliable and affordable is available at www.GeorgiaPower.com.
Georgia Power is an electric subsidiary of Southern Company serving all but four counties across Georgia with what it describes as clean, safe, reliable, and affordable energy through a diverse mix including nuclear, coal, natural gas, solar, hydroelectricity, and wind.
