ATLANTA, March 9, 2020 /PRNewswire/ -- Georgia Power
has filed a plan with the Georgia Public Service Commission (PSC)
to reduce its fuel rates by 16 percent and total annual billings by
$329 million. This reduction, if
approved by the PSC, is expected to lower the total monthly bill by
approximately $5 for the typical
residential customer using 1,000 kilowatt-hours per month beginning
June 1, 2020.
The reduction in the company's fuel rate is driven primarily by
lower natural gas prices as a result of increased natural gas
supplies. By working with the Georgia PSC, Georgia Power
proactively plans and develops a diverse and balanced energy mix.
This means the company is able to take advantage of the most
cost-effective resources throughout the year including nuclear,
coal and natural gas, as well as renewables such as solar,
hydroelectric and wind, and pass along savings to customers. Fuel
rates are set separately from base rates.
The Georgia PSC will conduct public hearings regarding the filed
plan on May 18 – 19, 2020, with a
final decision expected on May 28,
2020. If approved, the new fuel rates will be effective
June 1, 2020.
In addition to the planned reduction in fuel rates, Georgia
Power also recently announced the third and final bill credits
associated with the Tax Cuts and Jobs Act of 2017, resulting in
credits totaling $106 million. The
typical residential customer using an average of 1,000
kilowatt-hours per month received a credit of approximately
$22 on their February Georgia Power
bill.
To learn more about how Georgia Power delivers rates below the
national average, cultivates a diverse energy mix to ensure
reliable and affordable power, as well as free energy services and
programs available for customers, visit www.georgiapower.com.
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. 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).
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SOURCE Georgia Power