The third of three bill credits associated with the Tax Cuts and Jobs Act of 2017 will be applied directly to Georgia Power customers’ bills in February 2020. These credits are a result of the reduction in Georgia Power’s federal corporate tax rate from 35% down to 21%.
Georgia Power customers will receive the February credit totaling $106 million based upon energy consumption from May through December 2019. The typical residential customer using an average of 1,000 kilowatt-hours per month would receive a credit of approximately $22 on their February Georgia Power bill. The actual amount of the individual credit will vary based on a customer’s specific energy usage.
“Over the past two years Georgia Power has passed on the benefits from the Tax Cuts and Jobs Act through direct credits on customers’ bills, and this final bill credit fulfills that commitment,” said Kevin Kastner, vice president of customer services for Georgia Power. “These bill credits are just one way we work to provide the best value to our customers, while continuing to provide the clean, safe, reliable and affordable energy they expect and deserve at rates below the national average.”
The Tax Cuts and Jobs Act customer benefits were first approved in March 2018 as part of an agreement with Georgia Public Service Commission (PSC) Staff. When complete, Georgia Power will have provided three separate credits to customers totaling $330 million. The first credit was issued in October 2018, the second credit was applied in June 2019 and this third credit will appear on customer bills this month.