Georgia Power Proposes 1% Rate Cut, Seeks $912 M Storm Cost Recovery
Georgia Power’s filings with the Georgia PSC would cut customer rates by 1% from June, saving about $1.32 per month for a 1,000 kWh household. It proposes recouping $912 million in storm costs—including $800 million from Hurricane Helene—over four years.
1. Proposed Rate Decrease Filings
Georgia Power filed Fuel Cost Recovery (Docket 56765) and Storm Cost Recovery (Docket 44280) cases with the Georgia PSC seeking an overall rate reduction of 1% beginning June. If approved, the average residential customer using 1,000 kWh per month would save approximately $1.32 each billing cycle.
2. Fuel Cost Recovery and Hedging
The Fuel Cost Recovery filing requests pass-through recovery of coal and natural gas expenses for power generation with no profit on fuel charges. Strategic hedging locks in current supply prices to protect customers from future volatility while leveraging a diverse generation mix of nuclear, gas, coal and renewables.
3. Storm Cost Recovery and Impact
The Storm Cost Recovery filing proposes recouping a $912 million reserve shortfall over four years, covering nearly $800 million in damage from Hurricane Helene in 2024. Despite this historic impact, Georgia Power restored power to millions of customers within days and maintains a storm reserve to manage future severe weather costs.