Georgia Power announced Monday that the typical residential customer using 1,000-kilowatt hours will be given an $11.29 credit on their June bill from the power company. This reflects the implementation of a one-time $51.5 million credit for customers, approved by the Georgia Public Service Commission, as a result of Georgia Power’s 2018 financial results, this according to a Georgia Power media release.
This June credit, coupled with new, lower fuel rates recently announced, will result in a savings of $21.55 for the typical residential customer on his or her power bill this month.
The amount each customer receives will vary based on 2018 usage. Georgia Power will apply the credit to June bills for their customers who had active accounts as of December 31, 2018 and are still active or receiving a final bill as of June 2020.
In addition to the one-time credit in June, the PSC recently approved the plan by Georgia Power to reduce its fuel rates by 17.2 percent and total billings by approximately $740 million over a two-year period. The implementation of a special interim reduction will provide customers with additional relief during the COVID-19 pandemic through even lower fuel rates over summer months. These will lower the total bill of a usual residential customer which uses an average of 1,000 kilowatt hours by a total of $10.26 every month from June through September 2020.
Earlier this year, Georgia Power completed the third and final bill credit that was associated with the Tax Cuts and Jobs Act of 2017, which resulted in bill credits totaling $106 million. It resulted in a credit of approximately $22 per 1,000 kilowatt-hour customer on February power bills.