Southern Company's Georgia Power Secures Stable Rates to Support Economic Growth and Reliability
- Georgia Power, a Southern Company subsidiary, secured a rate plan ensuring stable electricity rates through 2028 for customers.
- The plan supports Georgia's economic growth, addressing rising electricity demand tied to job creation and investments.
- Georgia Power emphasizes reliability and affordability, aiming to foster a conducive business environment while maintaining customer interests.
Georgia Power’s Stable Rate Plan: A Commitment to Economic Growth and Customer Reliability
Georgia Power, a subsidiary of Southern Company, has secured a significant regulatory approval from the Georgia Public Service Commission (PSC) that ensures stable electricity rates for its customers until at least the end of 2028. Approved on July 1, 2025, this plan follows a stipulated agreement reached in May between Georgia Power and the PSC's Public Interest Advocacy Staff, extending a prior rate plan initially sanctioned in 2022. The decision comes amid Georgia's remarkable economic growth, characterized by increased electricity demand spurred by job creation and rising tax revenues. With approximately 2.8 million customers relying on its services, Georgia Power's proactive engagement with stakeholders—ranging from state officials to local communities—highlights the company's dedication to meeting future energy needs while maintaining reliability and affordability.
The stable rate initiative is a strategic response to the challenges posed by the state’s burgeoning economy. As Georgia continues to attract investments and expand its workforce, the demand for electricity is anticipated to rise correspondingly. Georgia Power’s leadership, particularly CEO Kim Greene, emphasizes that this rate freeze represents a balanced approach that benefits all stakeholders. By ensuring predictable pricing, the company aims to foster a business environment conducive to growth while simultaneously safeguarding the interests of consumers. This forward-thinking strategy not only reflects the company’s commitment to providing reliable energy but also underscores its role in supporting the state's overall economic trajectory.
In addition to maintaining stable rates, Georgia Power is preparing to address the costs associated with Hurricane Helene restoration and other storm recovery efforts. The company plans to pursue recovery of these costs through its base electric rates, with a separate PSC proceeding expected in the first half of 2026. This aspect of the regulatory approval illustrates Georgia Power's focus on resilience in its operations, ensuring that it can respond effectively to unforeseen challenges while continuing to deliver clean and safe energy to its customers. The ongoing regulatory cooperation highlights Georgia’s constructive environment for energy companies, setting a precedent for sustainable growth and development in the state.
The approved rate plan signifies a pivotal moment for Georgia Power as it aligns its operational strategies with the state's economic ambitions. By maintaining stable and predictable electricity rates, the company positions itself as a reliable partner in Georgia's growth narrative while laying the groundwork for future energy innovations. As the company navigates the complexities of energy demands and environmental stewardship, it remains committed to delivering value to its customers and contributing to the state's long-term prosperity.