Georgia Power bill rate hike: Everything to know

On December 29, 2024By Littum

ATLANTA, Ga. (Atlanta News First) – In January, your electricity bill in Georgia will increase by 3.5%.

That adjustment equates to a $5.85 increase on each monthly bill for the average resident using 1,000 kilowatt hours of energy, according to a Georgia Power spokesman.

The Georgia Public Service Commission approved the rate increase in mid-December following similar rate increases in 2023 and 2024.

These annual rate increases were orchestrated as part of a 2022 agreement between the Commission and the utility.

“No one wants a rate increase, but to keep the grid going, we have to fund it,” said Commissioner Tim Echols.

Echols said the board negotiated the rate increases to happen annually instead of all at once in 2022, to help limit the impact on Georgia consumers.

He said the state approved 60% of what Georgia Power sought in their proposed rate adjustments.

Echols commiserated with customers who experienced higher energy bills.

“We’ve had too many rate increases over the last three years,” Echols said.

Some customers expressed frustration over a separate bill bump this summer.

Georgia Power is expected to earn $306 million in additional revenue from the January rate hike, down from the originally projected estimate of $400 million in 2022, according to a state spokesman.

“Another increase in January, so I’m mentally preparing and trying to budget for that to see what that shock is going to be like,” said a Georgia Power customer named Marcus.

A Georgia Power spokesperson told Atlanta News First the company is committed to keeping utility bills affordable and said the average Georgia Power customer pays 15% less than the national average on their energy bills.

“As much as you hate to have your power bill go up a few dollars, you’d really hate to have rolling blackouts,” said Echols, who said maintaining a reliable power system is his top priority as commissioner.

The rate increase comes as Southern Company, Georgia Power’s parent company, reports remarkable profits.

In an October earnings report, Southern Company reported earnings of $3.9 billion, compared to $3.1 billion for the same period in 2023.

The company said these earnings were partially offset by increased expenses and taxes.

A Georgia Power spokesman also recognized Southern Company’s earnings, attributing the “high performance throughout the year” to weather and growth across the system, they said in a statement to Atlanta News First.

“Our parent company, Southern Company, has reported strong performance throughout this year, largely due to weather and growth across our system,” the Georgia Power spokesman said.

Echols said, “I feel the investments have made Georgia a more reliable place to live and work.”

On Tuesday, a Georgia Power spokesman pointed to customer assistance programs for those struggling to keep up with their energy bills.

Earlier this year, the utility company expanded an income-qualified discount program for those with limited income and need for financial resources.