Augusta Business Daily

Friday, June 9, 2023

Customers reap benefits of Georgia Power’s investments

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.

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