Georgia Power customers to see $17 reduction on October bills

Rhea-AI Summary

Georgia Power announced a one-time $12 credit for typical residential customers using 1,000-kilowatt hours on their October bill, as approved by the Georgia Public Service Commission. This credit is part of a $61.6 million customer relief program stemming from Georgia Power's 2019 financial results. Customers who had accounts active as of December 31, 2019, will receive this and two other credits this year, totaling over $45. Combined with lower fuel rates, customers will experience a reduction exceeding $17 in their October bills.

Positive

• Customers will receive a $12 credit in October, part of a $61.6 million relief program.
• Total credits for the year exceed $45 for typical residential customers.
• Lower fuel rate implementation will contribute to a total reduction of over $17 in October bills.

Negative

• None.

ATLANTA, Sept. 1, 2020 /PRNewswire/ -- Georgia Power today announced that the typical residential customer using 1,000-kilowatt hours will receive an estimated $12 credit on their October Georgia Power bill. This reflects implementation of a one-time $61.6 million credit for customers, approved today by the Georgia Public Service Commission (PSC), as a result of Georgia Power's 2019 financial results.

Pairing the October credit with lower fuel rates implemented at the start of summer, the typical residential customer will see a reduction of more than $17 next month.

The amount each customer receives will vary based on their 2019 usage. Georgia Power will apply the credit to October bills for customers who had active accounts as of December 31, 2019, and are still active or receiving a final bill as of October 2020. This is the third credit that customers will receive this year, totaling more than $45 for the typical residential customer.

Relief on summer bills
In June, the typical residential customer using 1,000-kilowatt hours received an $11.29 credit on their June Georgia Power bill. This credit reflected the implementation of a $51.5 million credit for customers, approved by the Georgia PSC, as a result of Georgia Power's 2018 financial results.

Additionally, the Georgia PSC approved in May Georgia Power's plan to reduce its fuel rates by 17.2 percent and total billings by approximately $740 million over a two-year period, and lower the total monthly bill by approximately $5.32 for the typical residential customer using 1,000 kilowatt-hours per month beginning June 1, 2020. Customers received a special interim reduction to provide additional relief during the COVID-19 pandemic through even lower fuel rates over the 2020 summer months. The lower fuel rate and special interim reduction lowered the total bill of a typical residential customer using an average of 1,000-kilowatt hours by a total of $10.26 per month from June through September 2020.

February bill credit due to 2017 tax law savings
Customers also received a credit of approximately $22 on their February Georgia Power bill as a result of the third and final bill credit associated with the Tax Cuts and Jobs Act of 2017, resulting in credits totaling $106 million.

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

FAQ

When will Georgia Power customers receive their October credit?

Georgia Power customers will receive the $12 credit on their October bill.

What is the total amount of credits issued to Georgia Power customers in 2020?

In 2020, Georgia Power customers will receive over $45 in total credits.

What factors contributed to the October bill reduction for Georgia Power customers?

The $12 October credit and lower fuel rates contributed to a reduction exceeding $17.

What financial results led to Georgia Power's recent bill credits?

The credits were approved due to Georgia Power's 2019 financial results.

What is the stock symbol for Georgia Power's parent company?

Georgia Power's parent company is Southern Company, traded under the symbol SO.