Georgia Power files rate plan with Georgia Public Service Commission
Georgia Power filed a rate plan with the Georgia Public Service Commission that includes investments in its electric grid, the transformation of its power generation, and improvements to the customer experience.
If the plan is approved, customer rates would increase a total of just under 12 percent over the next three years. The typical residential customer using 1,000 kilowatt hours per month would see an increase of $14.32 per month on their bill in 2023, $1.35 per month in 2024, and $0.62 per month in 2025, for a total increase of $16.29 over the three-year period. The proposed rates would take effect beginning Jan. 1, 2023.
“We take our responsibility to plan, prepare and make the investments needed to meet our customers’ energy needs today, tomorrow, and for years to come seriously, and Georgia Power’s request to the Georgia Public Service Commission today outlines and supports that focus,” Georgia Power Chairman, President and CEO Chris Womack said. “As our state continues to grow and the energy landscape rapidly evolves, we recognize and respect our customers’ focus on the reliability and resiliency of Georgia’s electric system, the expansion of our clean energy resources and Georgia Power’s continued ability to safely and reliably meet their energy needs. This request reinforces our commitment to meeting those needs while continuing to provide clean, safe, reliable, and affordable energy for generations of Georgians.”
The strengthen the grid, Georgia Power expects to invest nearly $7 billion more in transmission and distribution improvements over the next three years. Over the last 10 years, Georgia Power has invested nearly $10 billion to strengthen the reliability of its network, including approximately $4.9 billion in transmission and distribution infrastructure since January 2020.
Georgia Power will also continue to transition its power generation fleet to more economical and cleaner generation resources. The company is deploying new and expanded solar, wind, hydro, and energy storage resources. It has proposed the retirement of approximately 3,600 megawatts (MW) of coal- and oil-fired generation by 2028. Georgia Power currently has one of the largest voluntary renewable portfolios in the country, with more than 3,100 MW of renewable resources already online and an additional 2,400 MW under development. The company plans to double its renewable generation by adding 6,000 MW by 2035.
In addition, Georgia Power will invest nearly $700 million in technologies that will enhance operations and the customer experience. It will invest in a Customer Information System (CIS) that integrates customer information into a single platform and a Distributed Energy Resource Management System (DERMS) that offers real-time visibility into the impact of distributed energy resources on the electric system. Further, it will increase investments in community electric vehicle (EV) charging facilities and its electric transportation infrastructure. Also, Georgia Power offers several programs to help customers reduce their bills. More information on these programs can be found at www.GeorgiaPower.com/EnergyAssistance. Georgia Power, a subsidiary of Southern Company, provides energy to 2.7 million customers throughout Georgia.
