Georgia PSC approves 15 percent fuel rate reduction
Typical Georgia Power residential customer to save additional $5 per month beginning June 1
ATLANTA, May 17, 2016 /PRNewswire/ -- The Georgia Public Service Commission (PSC) today approved Georgia Power's plan to reduce its fuel rates by an additional 15 percent. The reduction is expected to lower the total monthly bill of the typical residential customer using 1,000 kilowatt-hours per month by approximately $4.60, beginning June 1. When combined with a previous fuel rate reduction which went into effect in January, the same Georgia Power residential customer will pay nearly $10 less in fuel costs each month.
The latest reduction is a result of the company's efficient management of its generation fleet and business and is driven by lower natural gas prices due in part to increased natural gas supplies. Due to proactive planning and a continued commitment to developing a diverse and balanced generation portfolio, Georgia Power is able to take advantage of lower natural gas prices and pass the savings along to customers.
In addition to the reduction in fuel rates, Georgia Power also recently announced its base electric rates will remain flat through 2019. This three-year base rate assurance for all of the company's 2.5 million customers was part of the decision by the Georgia PSC to approve the pending merger of Southern Company (the parent company of Georgia Power) and AGL Resources.
Georgia Power consistently offers rates that are below the national average. Over the past 26 years, the company's total retail rate has averaged more than 13 percent below the national average. The company's total retail price of 9.22 cents per kilowatt-hour at the end of 2015 was more than 14 percent below the national average. Georgia Power also works every day to help customers save money and energy through a variety of energy efficiency programs and services ranging from easy energy tips and rebates to energy tracking tools such as My Power Usage and in-home energy audits.
To learn more about how Georgia Power delivers rates below the national average, cultivates a diverse energy mix to ensure reliable and affordable power, as well as free energy services and programs available for customers, visit www.georgiapower.com.
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For further information: Georgia Power Media Relations, (404) 506-7676 or (800) 282-1696, www.georgiapower.com