Georgia Power customers to see $18 reduction on October bills

Rhea-AI Summary

Georgia Power's typical residential customer will receive a $13 credit on their October bill, part of a $61.6 million one-time credit approved by the Georgia PSC. This credit, combined with lower fuel rates, results in a total reduction of over $18 for the month. Customers will see a cumulative total of more than $46 in credits this year. Earlier this year, credits of $11.29 in June and $22 in February were implemented due to financial results and tax legislation, respectively. Georgia Power maintains rates below the national average while ensuring reliable service.

Positive

• Customers will receive a $13 credit in October and a total reduction exceeding $18 due to lower fuel rates.
• Cumulative credits for customers this year will exceed $46.
• Georgia Power's efforts result in rates below the national average, enhancing customer satisfaction.

Negative

• None.

ATLANTA, Oct. 1, 2020 /PRNewswire/ -- Georgia Power's typical residential customer using 1,000-kilowatt hours per month, will receive an estimated $13 credit on their Georgia Power bill this month. This reflects implementation of a one-time $61.6 million credit for customers, approved in September 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 $18 this 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 $46 for the typical residential customer.

Relief on summer bills
In June, the typical residential customer 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 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 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 clean, safe, 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

What is the total credit Georgia Power customers will receive in October 2020?

Customers will receive a $13 credit on their October bill.

How much will Georgia Power customers save on their bills this October?

Customers will save over $18 in total due to the $13 credit and lower fuel rates.

What approved credit amount is affecting Georgia Power customers in 2020?

A one-time credit of $61.6 million has been approved by the Georgia PSC.

How much have Georgia Power customers saved in total credits this year?

Customers have received a total of more than $46 in credits throughout 2020.

What was the credit amount for Georgia Power customers in June 2020?

Customers received an $11.29 credit on their June bills.