ATLANTA, July 16, 2019 /PRNewswire/ -- The State of
Georgia is positioned to become a leader in battery energy storage
in the Southeast with Georgia Power's planned investment to own and
operate 80 megawatts (MW) of battery energy storage. The company's
2019 Integrated Resource Plan (IRP), unanimously approved today by
the Georgia Public Service Commission (PSC), includes energy
storage, 72 percent more renewable generation by 2024, and approval
of the company's environmental compliance strategy.
"Working with the Georgia PSC, we are positioning Georgia as a leader in the Southeast in
battery energy storage, which is critical to growing and maximizing
the value of renewable energy for customers as we increase our
renewable generation by 72 percent by 2024," said Allen Reaves, Georgia Power's senior vice
president and senior production officer. "Through the IRP process,
Georgia Power will continue to invest in a diverse energy portfolio
including the development of renewable resources in a way that
benefits all customers to deliver clean, safe, reliable energy at
rates that are well below the national average."
Under the approved IRP, Georgia Power will:
- Own and operate 80 MW of battery energy storage
systems, which will help position Georgia as a leader in storage in the
Southeast. Battery energy storage systems are critical to growing
and maximizing the value of renewable energy and this will provide
the company the opportunity to demonstrate the deployment,
integration and operation of storage to gain valuable insight into
how to maximize the value of storage for customers.
- Add 2,260 MW of new renewable (solar, wind or biomass)
generation to the company's energy mix, which is already
one of the largest voluntary renewable portfolios in the country.
With this addition, Georgia Power will continue as a leader in
solar energy production and grow its renewable generation by more
than 72 percent to 5,390 MW* by 2024 and increase the company's
total renewable capacity to 22 percent of its already diverse
portfolio.
- Continue making capital investments to ensure high
reliability of the system and help ensure the company meets all
state and federal environmental compliance regulations. Georgia
Power will move forward with five hydro investment projects
including projects at Terrora, Tugalo, Bartletts Ferry, Nacoochee
and Oliver generating facilities. The company will also continue
with its environmental compliance strategy, which includes
comprehensive plans to safely close all 29 ash ponds while
protecting water quality every step of the way and complying with
all state and federal requirements.
- Retire five coal-fired units, four at Plant Hammond near
Rome, Georgia, and one at Plant
McIntosh near Rincon,
Georgia, reducing the company's coal-fired
generation capacity to approximately half of what it was in 2005.
The company also will not renew its operating licenses for the
Estatoah, Langdale and Riverview hydro dams.
Energy Efficiency Programs
The plan also includes
energy efficiency targets 15 percent more than those approved in
previous IRPs, while adding new, innovative energy-saving programs
for both residential and commercial customers. New energy
efficiency programs for customers approved in this plan,
include:
- Income-Qualified program to provide greater financial
assistance to income-qualified households that are historically
under-represented in energy efficiency program participation. The
program will provide the opportunity to help contribute and raise
funds for customers in need of home weatherization assistance or
home energy efficiency improvements.
- Income-Qualified Energy Efficiency pilot program
designed to help up to 500 income-eligible residents save an
estimated 20 percent of their household electric energy. This
program will allow Georgia Power to cover the upfront costs of
installation for eligible energy efficiency upgrades. The customer
will repay the cost of the upgrades and installation through their
utility electric bills via a Commission-approved tariff. The pilot
program will be submitted for PSC approval by April 1, 2020, once PSC staff and the company
come to an agreement on program details.
Additionally, the company is expanding assistance to
income-qualified customers by increasing the annual funding for the
HopeWorks low-income weatherization program by more than 60
percent.
Integrated Resource Plan Process
Georgia Power's IRP,
which outlines how the company will continue to deliver clean,
safe, reliable and affordable energy to its 2.6 million customers
over the next 20 years, is filed every three years with the Georgia
PSC. The 2019 plan was a result of the in-depth IRP process, which
includes projections of future fuel costs, load and energy
forecasts, an analysis of available generation technologies, the
10-year transmission plan, and an economic assessment of potential
and proposed energy efficiency and demand response programs. The
company also evaluated the cost-effectiveness of its generating
resources given changing environmental regulations and emerging
technologies and discussed the growing importance of resilience to
the electric system.
To learn more about how Georgia Power is meeting the needs of
customers through a diverse, balanced energy portfolio, visit
www.GeorgiaPower.com.
* REC Disclaimer: Georgia Power purchases only the null
energy output from some renewable generating facilities that have
contracted to sell that energy to Georgia Power. Ownership of the
associated renewable energy credits (RECs) is specified in each
respective power purchase agreement. The party that owns the RECs
retains the right to use them.
About Georgia Power
Georgia Power is the largest
electric subsidiary of Southern Company (NYSE: SO), America's
premier energy company. Value, Reliability, Customer Service and
Stewardship are the cornerstones of the company's promise to 2.6
million customers in all but four of Georgia's 159 counties. Committed to
delivering clean, safe, reliable and affordable energy at rates
below the national average, Georgia Power maintains a diverse,
innovative generation mix that includes nuclear, coal and natural
gas, as well as renewables such as solar, hydroelectric and wind.
Georgia Power focuses on delivering world-class service to its
customers every day, and the company is consistently recognized by
J.D. Power and Associates as an industry leader in customer
satisfaction, ranking the company number one in business and
residential customer satisfaction in the South for 2018. For more
information, visit www.GeorgiaPower.com and connect with the
company on Facebook (Facebook.com/GeorgiaPower), Twitter
(Twitter.com/GeorgiaPower) and Instagram
(Instagram.com/ga_power).
Cautionary Note Regarding Forward-Looking
Statements
Certain information contained in this release is
forward-looking information based on current expectations and plans
that involve risks and uncertainties. Forward-looking information
includes, among other things, statements concerning customer rates
and execution of the IRP, including future generation sources and
capacity, unit retirements, and energy efficiency programs. Georgia
Power cautions that there are certain factors that could cause
actual results to differ materially from the forward-looking
information that has been provided. The reader is cautioned not to
put undue reliance on this forward-looking information, which is
not a guarantee of future performance and is subject to a number of
uncertainties and other factors, many of which are outside the
control of Georgia Power; accordingly, there can be no assurance
that such suggested results will be realized. The following
factors, in addition to those discussed in Georgia Power's Annual Report on Form 10-K for
the year ended December 31, 2018 and
subsequent securities filings, could cause actual results to differ
materially from management expectations as suggested by such
forward-looking information: state and federal rate regulations and
the impact of pending and future rate cases and negotiations; the
impact of recent and future federal and state regulatory changes,
including tax and environmental laws and regulations and other laws
and regulations to which Georgia Power is subject, as well as
changes in application of existing laws and regulations; the extent
and timing of costs and legal requirements related to coal
combustion residuals; current and future litigation or regulatory
investigations, proceedings or inquiries; the effects, extent and
timing of the entry of additional competition in the markets in
which Georgia Power operates, including from the development and
deployment of alternative energy sources; variations in demand for
electricity; available sources and costs of fuels; the ability to
control costs and avoid cost and schedule overruns during the
development, construction and operation of facilities, to construct
facilities in accordance with the requirements of permits and
licenses and to satisfy any environmental performance standards;
advances in technology; the ability of counterparties of Georgia
Power to make payments as and when due and to perform as required;
the ability of Georgia Power to obtain additional generating
capacity (or sell excess generating capacity) at competitive
prices; catastrophic events such as fires, earthquakes, explosions,
floods, tornadoes, hurricanes and other storms, droughts, pandemic
health events or other similar occurrences; and the direct or
indirect effects on Georgia Power's business resulting from
incidents affecting the U.S. electric grid or operation of
generating resources. Georgia Power expressly disclaims any
obligation to update any forward-looking information.
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SOURCE Georgia Power