ATLANTA, Ga. (Atlanta News First) – In January, your Georgia Power bill will increase by 3.5%.
That adjustment equates to a $5.85 increase on each monthly bill for the average resident using 1,000 kilowatt hours of energy, according to a Georgia Power spokesperson.
The Georgia Public Service Commission approved the rate increase in mid-December, following similar rate increases in 2023 and 2024.
These annual rate increases were orchestrated as part of a 2022 agreement between the commission and the utility company.
“No one wants a rate increase, but in order to keep the grid going, we have to fund it,” said Commissioner Tim Echols.
Echols said the board negotiated the rate increases to occur annually rather than all at once in 2022, to help limit the impact on Georgia consumers.
He said the state approved 60% of what Georgia Power was seeking in their proposed rate adjustments.
Echols commiserated with customers experiencing higher energy bills.
“We’ve had too many rate increases over the last three years,” Echols said.
Some customers voiced frustration over a separate bill bump this summer.
Georgia Power is expected to make $306 million in additional revenue from the January rate hike, down from the originally projected $400 million estimate in 2022, according to a state spokesperson.
“Another increase in January, so I’m mentally preparing and trying to budget for that to kind of see what that shock is going to be like,” said one Georgia Power customer named Marcus.
A Georgia Power spokesperson told Atlanta News First the company is committed to keeping utility bills affordable and said the average Georgia Power customer pays 15% less than the national average on their energy bills.
“As much as you hate having your power bill going up a few dollars, you would really hate rolling blackouts,” said Echols, who said maintaining a reliable power system is his top priority as a commissioner.
The rate increase comes as Southern Company, Georgia Power’s parent company, is reporting notable profits.
In an October earnings report, Southern Company reported earnings of $3.9 billion, compared with $3.1 billion for the same period in 2023.
The company said those earnings were partially offset by increased expenses and taxes.
A Georgia Power spokesperson also recognized the profit earnings by Southern Company, attributing the “high performance throughout the year” to weather and growth across the system, they said in a statement to Atlanta News First.
“Our parent company, Southern Company, has reported high performance throughout this year, largely due to weather and growth across our system,” the Georgia Power spokesperson said.
Said Echols: “I feel like the investments have made Georgia a more reliable place to live and to work.”
On Tuesday, a Georgia Power spokesperson pointed to customer assistance programs for those struggling to keep up with their energy bills.
Earlier this year, the utility company expanded an income-qualified discount program for those with limited incomes and in need of financial resources.
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Georgia Power customers may be in for a shock as the utility company recently announced a rate hike that will affect their monthly bills. Here’s everything you need to know about the upcoming increase:
1. The rate hike: Georgia Power has requested a rate increase of 7.7% from the Georgia Public Service Commission. If approved, this would mean an average increase of about $10 per month for residential customers.
2. Reason for the hike: Georgia Power has stated that the rate increase is necessary to cover the costs of investments in infrastructure and to ensure reliable service for customers. The company has also cited rising fuel and environmental compliance costs as reasons for the hike.
3. How it will impact customers: The rate hike will impact all Georgia Power customers, including residential, commercial, and industrial customers. For residential customers, the increase will show up on their monthly bills, potentially leading to higher electricity costs.
4. Public hearings: The Georgia Public Service Commission will hold public hearings to gather input from customers and stakeholders on the rate hike proposal. Customers are encouraged to attend these hearings and voice their opinions on the proposed increase.
5. Energy-saving tips: In light of the rate hike, customers are encouraged to take steps to reduce their energy consumption and lower their monthly bills. Simple measures such as turning off lights when not in use, using energy-efficient appliances, and adjusting the thermostat can help save on energy costs.
Overall, the Georgia Power rate hike is a significant development that will impact customers across the state. Stay informed about the upcoming changes and consider taking steps to minimize the impact on your monthly electricity bills.
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