Georgia Power had a very good year with its investments in 2022 and next month, customers will receive benefits from that success.
Customers of the utility will see a one-time credit on their bill in March. Although each customer’s credit will vary based on usage in 2022, for a typical user of 1,000-kilowatt hours per month, the average credit will be around $23.
The Georgia Public Service Commission allows Georgia Power to earn a return on its investments up to a certain amount. If its investment earnings exceed that amount, 80 percent of the excess has to be returned to the customers.
In 2022, Georgia Power exceeded the allotted amount by $297 million, meaning $238 million will be returned. The company will do that in two ways: $119 million in credits to the customers and $119 million applied to the company’s operations to reduce customer costs.
