2023 Fuel Cost Recovery

Georgia state law requires Georgia Power’s fuel costs be recovered outside of its base rate request process. Just as Georgians paid higher prices at the gas pump in 2022, Georgia Power also paid more for the natural gas and other fuels we use to generate electricity.

 

We do not earn any profit on fuel costs, and, since our last fuel adjustment request in 2020, we have incurred an additional $2.1 billion in fuel costs that were necessary to serve customers that have not yet been included on bills.

 

Under our stipulated agreement with PIA Staff, if approved, we will recover these costs over 3 years compared to the typical 2 years which will help balance the impact of these costs for customers.

Based on revised estimates filed with the Georgia PSC on April 24, which reflect more recent natural gas prices, we have reduced the anticipated bill impact for the typical residential customer from a potential high of $23 dollars to approximately $15.90 per month. If approved, the rate adjustment will take effect June 1, 2023.

No. Under Georgia law, the company doesn’t earn a profit on fuel costs.

Georgia Power maintains a diverse fuel mix, including natural gas, nuclear, solar, wind, hydro and coal, to provide both reliable and affordable energy for our customers. We closely monitor fuel costs and uses the most cost-effective generation resources throughout the year.

Over the past two years, the cost of the fuel Georgia Power uses to generate electricity exceeded the amount we recovered from customers. To help prevent another large under-recovered balance from occurring, Georgia Power and PIA Staff have agreed to increase the maximum amount by which fuel rates can be adjusted between fuel cases from 15% to 40%. This change will benefit customers by providing appropriate and necessary flexibility to mitigate against significant under-recoveries moving forward.

Customers are encouraged to review their current rate plan to ensure they’re on the best rate for their budget and lifestyle. We offer a variety of flexible and customizable rate plans and payment options to help customers manage their electric bills.

 

Customers can explore details of our rate plans, including plans for customers who want the assurance of a bill that stays the same year-round, customers who want to pre-pay and avoid a deposit, customers who drive EVs, and more.

 

Customers can also cut costs and lower their bills through energy efficiency programs and improvements.

 

At Georgia Power, we believe everyone should have access to safe, clean, reliable, and affordable energy and understand that energy costs are an important part of every family’s budget. That’s why we work every day to run our business efficiently and keep rates as affordable as possible for customers.

 

In addition, we offer bill payment assistance programs for customers who may be in need. The company works with customers to coordinate payment arrangements and discounts, such as the Income-Qualified Senior Citizen Discount, and connect them with community organizations that may be able to help them pay their bill, including The Salvation Army’s Project SHARE, the Low-Income Home Energy Assistance Program (LIHEAP), and the Georgia Rental Assistance (GRA) Program.

 

For more information, please visit the Assistance website below, or via phone at 888-660-5890.

 

Georgia Power offers several energy efficiency programs that residential customers can utilize to improve the efficiency of their homes to better manage energy usage and power bills. While some of the programs offer no-cost tools and resources or rebates to any customer, others are tailored to income-qualified customers and provide no-cost home improvements for customers least able to afford efficiency upgrades.