Georgia Power and the Public Interest Advocacy (PIA) Staff of the Georgia Public Service Commission (PSC) have reached a stipulated agreement in two cases originally filed with the Georgia PSC in February – the Fuel Cost Recovery (Docket 56765) case and Storm Cost Recovery (Docket 44280) case. The cases sought to recover the cost of fuel to operate power generation plants to serve customers and to recover costs to quickly and safely restore electric service following storms of all sizes, notably the historic Hurricane Helene in 2024.

When filed, Georgia Power announced that it expected the two cases to have a cumulative effect of lowering overall rates for customers beginning this summer if approved. Today’s stipulated agreement, which remains subject to review and approval by the Georgia PSC later this month, brings even better news for customers, with the typical residential customer using 1,000 kilowatt-hours a month expected to save $4.04 per month, or nearly $50 per year, beginning in June. The savings, approximately $285 million per year, are the result of constructive negotiations between the company and PIA Staff, including lengthening the recovery period and leveraging additional production tax credits for the benefit of customers. 

“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.”  

Focused on Affordable Energy & Delivering Savings

For more than 140 years, Georgia Power has worked to bring Georgians the energy they need at the lowest possible rates. Since 1990, the company has offered rates 15 percent below the national average, on average, while also offering flexible rate plans for residential and business customers, as well as a wide variety of programs to help customers save money and energy.

With new residents moving to the state and large-load customers like data centers and manufacturers choosing Georgia, Georgia Power continues to work to ensure that growth benefits all Georgia Power customers. The growing pipeline of large-load customers is a key factor that enabled thecompany’s earlier base rate freeze, and is helping spread fixed costs across a broader customer base and protect residential and small business customers. This growth has also allowed the company to commit to providing annual savings of $102 per year for the typical residential customer beginning in 2029.

To learn more about how Georgia Power is keeping energy reliable and affordable for millions of Georgia homes and businesses, visit www.GeorgiaPower.com.