In a move that should benefit both businesses and consumers alike, the Georgia Public Service Commission (PSC) has approved a plan to keep Georgia Power’s base rates stable and predictable through at least the end of 2028. Storm costs from Hurricane Helene will be considered separately at the beginning of 2026.
After seven hours of testimony, the freeze approval follows a stipulated agreement reached between Georgia Power and Georgia PSC Public Interest Advocacy Staff in May, which recommended an extension of the existing alternate rate plan previously approved by the Georgia PSC in 2022.
Georgia continues to experience extraordinary growth and increased demand for electricity, driven by a strong economy and robust economic development activities, which are bringing new jobs and tax revenue to communities across the state. In recent years, Georgia Power has worked with state and local elected officials including the Georgia PSC and the state legislature, business and community leaders, and a variety of stakeholders representing the diverse interests of Georgians, to develop and execute plans that help ensure that the state can meet future energy demand, make investments needed for reliability and resiliency of the power grid, and keep energy costs affordable for customers.
This ongoing effort has included multiple important regulatory initiatives such as the 2023 IRP Update and recently revised and PSC-approved rules and regulations which provide Georgia Power with the tools and flexibility necessary to address risks and costs associated with “large load” users, helping ensure a fair and balanced approach for all of the company’s 2.8 million customers.
“At Georgia Power, we appreciate that our customers depend on us to deliver reliable and affordable energy every day to power their homes and businesses – that is our focus every day, with every decision we make,” said Kim Greene, Chairman, President, and CEO of Georgia Power. “The rate freeze resulting from this plan is a great result for customers, balancing the mutual benefits of extraordinary economic growth among all stakeholders and helping to ensure that we remain equipped to continue supporting growth in this state.”
The company plans to seek recovery through base electric rates of reasonable and prudent costs related to Hurricane Helene restoration and rebuilding, as well as costs to respond to other storms through the end of 2025. That separate Georgia PSC regulatory proceeding is expected in the first half of 2026. A PSC audit of Georgia Power’s storm damage expenses is underway.
