Georgia Power customers will receive savings starting in January 2025

A unanimous vote on Sept. 4 by the Georgia Public Service Commission (PSC) means Georgia Power customers will start seeing savings on their monthly bills as early as January 2025.

“Every day, we work to keep our rates as low as possible while making the investments needed to deliver reliable energy and power a growing Georgia,” said Kim Greene, president, chairman and CEO of Georgia Power.

The PSC approved a motion by Commissioner Fitz Johnson to expedite the return of roughly $122 million to Georgia Power customers. The funds are available due to recent changes to state tax law that lowered the company’s corporate tax rate and will help offset inflationary related cost increases for customers, according to Georgia Power, the largest electric subsidiary of Southern Company.

Under the direction of the Georgia PSC, the company said it will work to deliver near-term rate relief for customers that’s expected to result in estimated savings of approximately $2.25 per month for the typical residential customer using an average of 1,000 kilowatt hours per month.

The adjustment will partially offset the implementation of the third year of Georgia Power’s 2022 rate request, said the utility, adding that the move is the direct result of the passage of House Bills 1015 and 1023 by the Georgia General Assembly earlier this year, and signed into law in April by Georgia Gov. Brian Kemp. The bills lower the state’s income tax rate and match the corporate income tax rate to the individual income tax rate.

According to the PSC’s approved motion, both legislative actions lower taxes for all Georgians and will continue to make Georgia one of the most attractive places in the world to do business and encourage businesses with good-paying jobs to locate in the state, according to Georgia Power.

“We applaud members of the Georgia legislature and Governor Kemp for revising the state’s tax code, and the members of the Georgia PSC for working with us to quickly return these funds for the benefit of customers,” Greene said.

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