Georgia Power customers to see modest savings under new rate plan approved by PSC

The Georgia Public Service Commission this week approved a plan expected to reduce utility bills for Georgia Power customers by a few dollars a month.

The commission said the change will generate about $285 million in total annual savings for Georgia Power customers, or roughly $50 per year — about $4.04 per month — for the average residential customer using 1,000 kilowatt-hours a month.

The Georgia PSC voted Thursday to lower overall rates as part of the approved plan.

Georgia Power Chief Financial Officer and Treasurer Tyler Cook said the decision will provide “real savings for Georgia families and businesses as the heat of summer begins and energy use increases.”

“At Georgia Power, our teams work every day to run our business efficiently and keep reliable and affordable energy flowing to our customers,” Cook said.

Cook said the outcome followed months of work between Georgia Power and PSC staff, including reviews, public hearings and input from residents and intervenors.

The approved plan is tied to a stipulated agreement reached earlier this month involving two cases filed with the PSC in February, the Fuel Cost Recovery case and the Storm Cost Recovery case. Those cases addressed recovering fuel costs used to generate electricity and expenses tied to restoring power after storms.

Georgia Power said its rates remain, on average, about 15% below the national average and that it is still on track to provide additional annual savings of about $102 per year for typical residential customers beginning in 2029.