ATLANTA — Georgia Power customers will be able to save some money this year.
The utility company announced Thursday that the Georgia Public Service Commissioner approved the plan to lower overall rates.
The rate decrease will go into effect in June to save customers on average $4.04 a month or $50 a year. Georgia Power expects to save $285 million in total for customers this year.
“Today’s vote by the Georgia PSC will bring lower rates and real savings for Georgia families and businesses as the heat of summer begins and energy use increases, which can lead to higher bills,” Georgia Power CFO and treasurer Tyler Cook said in a statement.
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The lower rate plan was part of two filings that Georgia Power submitted to the PSC earlier this year.
One of the filings was to recover fuel costs to operate power plants and the other was to recover costs from restoring service following storms. Officials say their storm reserve is currently under-recovered by $912 million, which they plan to recover over the next four years.
Nearly $800 million of that comes from damage following Hurricane Helene in 2024, which they describe as the most destructive storm in Georgia Power’s history.
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