$122 million in savings to Georgia Power customers

The Georgia Public Service Commission (PSC) has voted unanimously to approve a motion to expedite the return of approximately $122 million in funds beginning January 2025. The money is available due to recent changes to state tax law which lowered the Georgia Power’s corporate tax rate.

The estimated savings for the typical residential customer using an average of 1,000 kilowatt hours per month amounts to about $2.25 per month. This adjustment will partially offset the implementation of the third year of Georgia Power’s 2022 rate request.

The move is the direct result of the passage of House Bills 1015 and 1023 by the Georgia General Assembly earlier this year, and signed into law by Governor Brian Kemp in April, which lower the state’s income tax rate and matches the corporate income tax rate to the individual income tax rate. The goal was to provide lower taxes and continue to put Georgia at the top of the list for business location.

“Every day, we work to keep our rates as low as possible while making the investments needed to deliver reliable energy and power to a growing Georgia,” said Kim Greene, President, Chairman, and CEO of Georgia Power.

ABD did a little research and found that for the monthly savings of $2.25, you can get a Burger King hamburger, a small cup of coffee from Dunkin Donuts, or ¾ of a gallon of gas at Parker’s Kitchen. Spend the savings wisely!

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