Georgia PSC approves plan to freeze Georgia Power base rates through at least 2028
Georgia Power, a subsidiary of Southern Company (NYSE: SO), has received approval from the Georgia Public Service Commission (PSC) to freeze base electricity rates for its 2.8 million customers through at least 2028. The approval follows a stipulated agreement reached in May between Georgia Power and PSC Public Interest Advocacy Staff.
The rate freeze plan comes amid Georgia's significant economic growth and increased electricity demand. The company will address costs related to Hurricane Helene restoration and other storm-related expenses through 2025 in a separate regulatory proceeding expected in the first half of 2026.
This development builds on previous regulatory initiatives, including the 2023 IRP Update and revised PSC-approved rules addressing "large load" users. Georgia Power maintains a diverse generation mix including nuclear, coal, natural gas, and renewables to serve customers across 155 of Georgia's 159 counties.
Georgia Power, una controllata di Southern Company (NYSE: SO), ha ottenuto l'approvazione dalla Georgia Public Service Commission (PSC) per congelare le tariffe base dell'elettricità per i suoi 2,8 milioni di clienti almeno fino al 2028. L'approvazione segue un accordo stipulato a maggio tra Georgia Power e lo Staff per la Tutela dell'Interesse Pubblico della PSC.
Il piano di congelamento delle tariffe arriva in un contesto di significativa crescita economica della Georgia e aumento della domanda di elettricità. La società affronterà i costi legati al ripristino dopo l'uragano Helene e altre spese correlate alle tempeste fino al 2025 in un procedimento regolatorio separato previsto nella prima metà del 2026.
Questo sviluppo si basa su iniziative regolatorie precedenti, tra cui l'aggiornamento del 2023 del Piano Integrato delle Risorse (IRP) e le regole riviste approvate dalla PSC per gli utenti con "carichi elevati". Georgia Power mantiene un mix diversificato di generazione, che include nucleare, carbone, gas naturale e fonti rinnovabili, per servire i clienti in 155 delle 159 contee della Georgia.
Georgia Power, una subsidiaria de Southern Company (NYSE: SO), ha recibido la aprobación de la Comisión de Servicio Público de Georgia (PSC) para congelar las tarifas base de electricidad para sus 2.8 millones de clientes al menos hasta 2028. La aprobación sigue a un acuerdo estipulado alcanzado en mayo entre Georgia Power y el Personal de Defensa del Interés Público de la PSC.
El plan de congelación de tarifas llega en medio del significativo crecimiento económico de Georgia y el aumento de la demanda eléctrica. La compañía cubrirá los costos relacionados con la restauración tras el huracán Helene y otros gastos derivados de tormentas hasta 2025 en un procedimiento regulatorio separado que se espera para la primera mitad de 2026.
Este desarrollo se basa en iniciativas regulatorias previas, incluyendo la actualización del IRP de 2023 y las reglas revisadas aprobadas por la PSC para usuarios de "gran carga". Georgia Power mantiene una mezcla diversa de generación que incluye nuclear, carbón, gas natural y renovables para atender a clientes en 155 de los 159 condados de Georgia.
Georgia Power는 Southern Company (NYSE: SO)의 자회사로, 조지아 공공서비스위원회(PSC)로부터 최소 2028년까지 280만 고객의 기본 전기요금 동결 승인을 받았습니다. 이 승인은 5월에 Georgia Power와 PSC 공익옹호팀 간에 체결된 합의에 따른 것입니다.
요금 동결 계획은 조지아주의 상당한 경제 성장과 전력 수요 증가 속에서 이루어졌습니다. 회사는 허리케인 헬렌 복구 및 기타 폭풍 관련 비용을 2025년까지 별도의 규제 절차를 통해 처리할 예정이며, 이 절차는 2026년 상반기에 진행될 예정입니다.
이번 조치는 2023년 IRP 업데이트 및 PSC가 승인한 "대규모 부하" 사용자에 관한 개정 규칙 등 이전 규제 이니셔티브를 기반으로 합니다. Georgia Power는 원자력, 석탄, 천연가스, 재생에너지를 포함한 다양한 발전원을 유지하며 조지아주의 159개 카운티 중 155개 카운티에 서비스를 제공합니다.
Georgia Power, une filiale de Southern Company (NYSE : SO), a obtenu l'approbation de la Georgia Public Service Commission (PSC) pour geler les tarifs de base de l'électricité pour ses 2,8 millions de clients au moins jusqu'en 2028. Cette approbation fait suite à un accord stipulé conclu en mai entre Georgia Power et le personnel de défense de l'intérêt public de la PSC.
Le plan de gel des tarifs intervient dans un contexte de forte croissance économique en Géorgie et d'augmentation de la demande d'électricité. La société prendra en charge les coûts liés à la restauration après l'ouragan Helene et autres dépenses liées aux tempêtes jusqu'en 2025 dans le cadre d'une procédure réglementaire distincte prévue pour le premier semestre 2026.
Cette évolution s'appuie sur des initiatives réglementaires antérieures, notamment la mise à jour du Plan intégré de ressources (IRP) de 2023 et les règles révisées approuvées par la PSC concernant les utilisateurs à "grande charge". Georgia Power maintient un mix de production diversifié comprenant nucléaire, charbon, gaz naturel et énergies renouvelables pour desservir les clients dans 155 des 159 comtés de Géorgie.
Georgia Power, eine Tochtergesellschaft der Southern Company (NYSE: SO), hat von der Georgia Public Service Commission (PSC) die Genehmigung erhalten, die Grundstromtarife für ihre 2,8 Millionen Kunden mindestens bis 2028 einzufrieren. Die Genehmigung folgt einer im Mai getroffenen Vereinbarung zwischen Georgia Power und dem PSC Public Interest Advocacy Staff.
Der Tarifstopp erfolgt vor dem Hintergrund des erheblichen Wirtschaftswachstums Georgias und der gestiegenen Stromnachfrage. Das Unternehmen wird Kosten im Zusammenhang mit der Wiederherstellung nach Hurrikan Helene und anderen sturmbedingten Ausgaben bis 2025 in einem separaten regulatorischen Verfahren behandeln, das in der ersten Hälfte des Jahres 2026 erwartet wird.
Diese Entwicklung baut auf früheren regulatorischen Initiativen auf, einschließlich des IRP-Updates 2023 und überarbeiteter, von der PSC genehmigter Regeln für "Großverbraucher". Georgia Power unterhält einen vielfältigen Energiemix aus Kernenergie, Kohle, Erdgas und erneuerbaren Energien, um Kunden in 155 der 159 Landkreise Georgias zu versorgen.
- Base electricity rates will remain stable through at least 2028, providing price predictability for customers
- Company serves a growing market with strong economic development activities
- Separate proceeding for storm costs allows for focused assessment of restoration expenses
- Regulatory framework provides flexibility to address large load users while maintaining fairness for all customers
- Additional costs from Hurricane Helene and other storms will need to be recovered through future rate adjustments
- Increasing demand and economic growth may strain existing infrastructure
Insights
Georgia Power secures rate freeze through 2028, providing revenue stability amid growth while deferring storm recovery costs to a separate proceeding.
The Georgia Public Service Commission's approval of Georgia Power's base rate freeze through at least 2028 represents a significant regulatory win for the Southern Company subsidiary. This decision provides four years of rate predictability in a high-growth environment, which is exceptional in the utility sector where rate cases typically occur every 2-3 years.
The rate freeze stemmed from a stipulated agreement between Georgia Power and PSC staff, extending an existing alternate rate plan from 2022. What makes this arrangement particularly notable is that it occurs during a period of extraordinary growth and increased electricity demand in Georgia. This growth-freeze dynamic creates a potential win-win: consumers get rate stability while the utility potentially benefits from volume growth without rate case expenses.
The separate proceeding for Hurricane Helene costs represents a strategic bifurcation of regulatory risk. By addressing storm recovery costs separately in 2026, Georgia Power avoids complicating the base rate freeze while ensuring a pathway to recover these significant expenses. This approach prevents storm costs from derailing the rate stability agreement while still preserving the utility's ability to recoup legitimate restoration expenses.
The regulatory environment Georgia Power operates within continues to show constructive characteristics, evidenced by recent PSC-approved rules giving the utility flexibility to address "large load" users. This regulatory framework helps the company balance serving high-demand customers (likely data centers and manufacturing) while protecting existing customers from bearing disproportionate costs - critical for maintaining broad stakeholder support during periods of industrial expansion.
Storm costs, including Hurricane Helene, to be addressed in separate proceeding
This ongoing effort has included multiple important regulatory initiatives such as the 2023 IRP Update and recently revised and PSC-approved rules and regulations which provide Georgia Power with the tools and flexibility necessary to address risks and costs associated with "large load" users, helping ensure a fair and balanced approach for all of the company's 2.8 million customers.
"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
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. That separate Georgia PSC regulatory proceeding is expected in the first half of 2026.
To learn more about how Georgia Power continues to deliver clean, safe, reliable and affordable energy, as well as tips and information to help lower energy use and costs at your home or business, visit www.GeorgiaPower.com.
About Georgia Power
Georgia Power is the largest electric subsidiary of Southern Company (NYSE: SO), America's premier energy company. Value, Reliability, Customer Service and Stewardship are the cornerstones of the company's promise to 2.8 million customers in all but four of
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SOURCE Georgia Power
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