Georgia Power has filed two cases with the Georgia Public Service Commission that could result in slightly lower electric bills for customers beginning this summer.
The filings include the company’s routine Fuel Cost Recovery case and a Storm Cost Recovery case. Together, Georgia Power says the combined effect would reduce overall rates by about 1 percent for the average residential customer, or roughly $1.32 per month for a typical household using 1,000 kilowatt-hours of electricity.
Fuel costs, which include coal and natural gas used to generate electricity, are passed directly to customers without profit for the company. Georgia Power officials say strong fuel planning and long-term pricing strategies have allowed the company to reduce the fuel portion of customer bills starting in June.
“Delivering reliable and affordable electricity to millions of Georgia homes and businesses requires prudent management and planning at every level,” said Tyler Cook, chief financial officer and treasurer for Georgia Power. He added the company is working with regulators to manage growth and provide savings despite rising demand nationwide.
The storm recovery filing seeks to address nearly $912 million in storm-related costs that have not yet been recovered, including approximately $800 million in damage caused by Hurricane Helene, the most destructive storm in the company’s history. The storm damaged more than 12,000 power poles, 1,500 miles of power lines and nearly 5,000 transformers.
Georgia Power is proposing to recover those storm costs over the next four years.
The Georgia Public Service Commission will review the filings in the coming months and accept input before making a final decision. If approved, the fuel savings are expected to more than offset storm recovery costs, resulting in a net decrease in customer rates.