The Georgia Public Service Commission (PSC) Tuesday gave its unanimous approval to a plan that freezes Georgia Power’s base rates through at least the end of 2028, with storm costs to be addressed in a separate proceeding. But the vote set the stage for another decision later this month when PSC Commissioners are scheduled to decide on a request by Georgia Power to increase its generating capacity to serve what its terms ‘large-load’ customers.
Base rates reflect what customers pay for electricity under the rate they choose, exclusive of fuel costs. Tuesday’s approval follows a stipulated agreement reached between Georgia Power and Georgia PSC Public Interest Advocacy Staff in May, which recommended an extension of the existing alternate rate plan previously approved by the Georgia PSC in 2022.
Georgia Power officials said in a statement released after the vote that “Georgia continues to experience extraordinary growth and increased demand for electricity, driven by a strong economy and robust economic development activities which are bringing new jobs and tax revenue to communities across the state. In recent years, Georgia Power has worked with state and local elected officials including the Georgia PSC and the state legislature, business and community leaders, and a variety of stakeholders representing the diverse interests of Georgians, to develop and execute plans that help ensure that the state can meet future energy demand, make investments needed for reliability and resiliency of the power grid, and keep energy costs affordable for customers.”
Storm costs, including Hurricane Helene, will be addressed in a separate proceeding expected in the first half of 2026. The company plans to seek recovery through base electric rates of reasonable and prudent costs related to Hurricane Helene restoration and rebuilding, as well as costs to respond to other storms through the end of 2025.
“At Georgia Power, we appreciate that our customers depend on us to deliver reliable and affordable energy every day to power their homes and businesses – that is our focus every day, with every decision we make,” said Kim Greene, chairman, president and CEO of Georgia Power. “The rate freeze resulting from this plan is a great result for customers, balancing the mutual benefits of extraordinary economic growth among all stakeholders and helping to ensure that we remain equipped to continue supporting growth in this state. A plan like this is only possible due to the strength of Georgia’s constructive regulatory environment, and we thank the Georgia Public Service Commission for their vote today.”
Before Tuesday’s 5-0 vote, Commissioner Tim Echols said Georgia’s economic successes of recent years are the result of sound energy planning.
