September 1st, 2020 – 2:45 PM
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.