Georgia Power files rate reduction that could cut residential bills by $5 per month

Published on March 11, 2020 by Chris Galford

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The average residential customer of Georgia Power could see around a $5 monthly reduction in their bills if a new 16 percent fuel rate reduction filed with the Georgia Public Service Commission (PSC) this week passes.

The plan calls for a reduction of $329 million from the utility’s annual billings, beginning June 1, 2020. It is driven by lower natural gas prices, which have resulted from increased natural gas supplies. The Georgia PSC intends to pursue the matter through public hearings on May 18-19 and deliver their final decision as of May 28.

Georgia Power calls its work with the PSC one of proactive planning, which guarantees its users a diverse and balanced energy mix. It taps into natural gas, but also nuclear, coal, and a variety of renewable energy sources.

Additionally, the company will begin the third and final round of bill credits stemming from the Tax Cuts and Jobs Act of 2017. Those credits will amount to $106 million.