Today, the Georgia Public Service Commission (PSC) voted unanimously to approve Georgia Power’s 2023 Fuel Cost Recovery Request. Today’s decision approves the company’s recovery of increased fuel costs incurred over the past three years serving customers, as well as projected fuel costs for the next two years.
Based on this decision, the bill impact for the typical residential customer using an average of 1,000-kilowatt hours will be approximately $15.94 per month, down from a potential high of $23 per month estimated in the company’s original February 2023 filing. Georgia Power will also recover previously incurred under-recovered costs over three years compared to the typical two-year recovery period which will help balance the impact of these costs for customers.
The new approved rates will go into effect June 1.
Today’s decision by the Georgia PSC also adds relief for income-qualified senior citizens through an increased discount program. The fuel discount available for income-qualified senior citizens will be increased from $6 per month to $9.50. When added to the $24 Income-Qualified Senior Citizen Discount already in place for base rates, today’s decision increases the total income-qualified senior citizen discount available to $33.50 a month. Click here for more information on the Income-Qualified Senior Citizen Discount program.
The approval by the Georgia PSC follows a stipulated agreement reached between Georgia Power and PSC Public Interest Advocacy Staff last month as well as recent hearings with company and intervenor testimonies and comments from the public. Throughout the process, Georgia Power has noted that, just as Georgians paid higher prices at the gas pump in 2022, the company also paid more for the natural gas and other fuels we use to generate electricity, and the company does not earn any profit from these fuel costs.
Georgia Power recognizes that energy costs are an important part of every family’s and business’ budget, and the company works every day to run its business efficiently, keep rates as affordable as possible and proactively take measures to protect customers from rising costs.