The Georgia Public Service Commission approved a plan by Georgia Power to freeze base power rates through the end of 2028.
Georgia Power announced the plan approval Tuesday.
The PSC said storm costs, including for Hurricane Helene damage, will be addressed in a separate proceeding.
Base rates reflect what customers pay for electricity under the rate they choose, exclusive of fuel costs.
The approval comes after an agreement between Georgia Power and Georgia PSC Public Interest Advocacy Staff in May, which recommended an extension of the existing alternate rate plan previously approved by the Georgia PSC in 2022.
Georgia Power and commissioners say that the data centers that are moving into Georgia will pay their fair share.
New rules will allow Georgia Power to charge data centers for the increased cost of infrastructure and energy.
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“At Georgia Power, we appreciate that our customers depend on us to deliver reliable and affordable energy every day to power their homes and businesses – that is our focus every day, with every decision we make,” said Kim Greene, chairman, president and CEO of Georgia Power.
“The rate freeze resulting from this plan is a great result for customers, balancing the mutual benefits of extraordinary economic growth among all stakeholders and helping to ensure that we remain equipped to continue supporting growth in this state,” Greene said.
At a public hearing June 23 ahead of the Georgia PSC vote, some expressed concern and skepticism about the plan, particularly when it comes to making sure the data centers pay their fair share, Channel 2’s Michael Doudna reported.
Georgia Power projects demand to increase by 8,200 megawatts by 2031. For comparison, the newly completed Plant Vogtle has a total generating capacity of approximately 4,800 megawatts.
Georgia Power said around 80% of the projected demand is from data centers.
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