One-time credit of $13 and fuel cost reduction of $5.32 combine for additional customer savings
Customer bill credits in 2020 total more than $46
Georgia Power’s typical residential customer using 1,000-kilowatt hours per month, will receive an estimated $13 credit on their Georgia Power bill this month. This reflects implementation of a one-time $61.6 million credit for customers, approved in September by the Georgia Public Service Commission (PSC), as a result of Georgia Power’s 2019 financial results.
Pairing the October credit with lower fuel rates implemented at the start of summer, the typical residential customer will see a reduction of more than $18 this month.
The amount each customer receives will vary based on their 2019 usage. Georgia Power will apply the credit to October bills for customers who had active accounts as of December 31, 2019, and are still active or receiving a final bill as of October 2020. This is the third credit that customers will receive this year, totaling more than $46 for the typical residential customer.
Relief on summer bills
In June, the typical residential customer received an $11.29 credit on their June Georgia Power bill. This credit reflected the implementation of a $51.5 million credit for customers, approved by the Georgia PSC, as a result of Georgia Power’s 2018 financial results.
Additionally, the Georgia PSC approved in May, Georgia Power’s plan to reduce its fuel rates by 17.2 percent and total billings by approximately $740 million over a two-year period, and lower the total monthly bill by approximately $5.32 for the typical residential customer beginning June 1, 2020. Customers received a special interim reduction to provide additional relief during the COVID-19 pandemic through even lower fuel rates over the 2020 summer months. The lower fuel rate and special interim reduction lowered the total bill of a typical residential customer by a total of $10.26 per month from June through September 2020.
February bill credit due to 2017 tax law savings
Customers also received a credit of approximately $22 on their February Georgia Power bill as a result of the third and final bill credit associated with the Tax Cuts and Jobs Act of 2017, resulting in credits totaling $106 million.