Georgia Power today filed a request with the Georgia Public Service Commission to recover the company’s under-recovered fuel costs from the past two years as well as projected fuel costs for the next two years. Georgia Power maintains a diverse fuel mix, including natural gas, nuclear, solar, wind, hydro and coal, to provide both reliable and affordable energy for our customers. The company closely monitors fuel costs and uses the most cost-effective generation resources throughout the year.
Just as Georgians paid higher prices at the gas pump in 2022, Georgia Power also paid more for the natural gas and other fuels we use to generate electricity. The company does not earn any profit on fuel costs, and, since the company’s last fuel adjustment request in 2020, Georgia Power has incurred an additional $2.1 billion in fuel costs that were necessary to serve customers that have not yet been included on bills.
Georgia state law requires Georgia Power’s fuel costs be recovered outside of its usual base rate request process.
Based on the company’s initial filing (available here), the typical residential customer using 1,000 kilowatt-hours per month would see an increase of approximately $17 to $23 per month. The company will continue to monitor fuel prices and will submit a revised request in April based on more recent natural gas prices. If approved, the increase will take effect June 1, 2023.