Georgia Public Service Commission approves rate request by Georgia Power

The Georgia Public Service Commission (PSC) approved Georgia Power’s rate request for the upcoming year.

Effective Jan. 1, 2023, the typical residential customer using 1,000 kilowatt-hours per month would see a bill increase of approximately $3.60 per month. The first-year rate impact on the average retail customer is 2.6 percent, followed by increases of approximately 4.5 percent in each of the next two years. The commission’s decision also approves several changes to the company’s rate request that were presented as part of a stipulated agreement between the company, PSC staff, and a group of intervenors that reduced the company’s three-year rate request by nearly 40 percent down to $1.8 billion.

Georgia Power officials said the rate request will help enable the company to continue investing in strengthening and securing the electric grid.

“Since the start of the rate request process, we asked the PSC to set rates at a level that supports the essential, critical investments needed to meet our state’s evolving energy needs,” Chris Womack, chairman, president, and CEO of Georgia Power, said. “Today’s decision does that while also balancing affordability needs for customers. Through this process, we were able to bring forth a plan that considered all perspectives, manages the impact to customers, and supports our continued focus on providing clean, safe, reliable, and affordable energy to Georgians.”

Specifically, the rate request supports critical investments in strengthening the electric grid by enhancing substations, replacing transformers, moving power lines underground, and more. It will also support investments in renewables and cleaner energy resources, including new and expanded solar, hydro, and energy storage resources. The company has plans to double its renewable generation resources by 2025 by adding 6,000 MW. In addition, the company will invest in enhancing operations and improving the customer experience, including investments in a new Customer Information System that enables employees to quickly provide more comprehensive and timely solutions.