Georgia Power customers will see a rate decrease of approximately $50 per year starting in June 2026, following the Georgia Public Service Commission’s approval of a settlement on May 28, 2026.
The typical residential customer using an average of 1,000 kilowatt-hours per month will save about $4.04 monthly under the new rates. Collectively, Georgia Power’s 2.8 million customers will realize approximately $285 million in annual savings, according to the company’s press release.
The rate reduction stems from a settlement between Georgia Power and the Public Interest Advocacy Staff of the Georgia PSC in two cases filed in February: the Fuel Cost Recovery case and the Storm Cost Recovery case. These cases address the costs of operating power generation plants and recovering expenses from storm restoration, particularly following Hurricane Helene in 2024.
Georgia Power is achieving the rate decrease in part by leveraging federal tax credits for nuclear power production, according to Capitol Beat. The company’s Vogtle nuclear facility qualifies for federal production tax credits that help offset customer bills. This approach allows the utility to pass savings directly to ratepayers while maintaining infrastructure investments.
Hurricane Helene, which struck Georgia in September 2024, caused approximately $800 million in damage to Georgia Power’s infrastructure, including damage to about 12,000 power poles, 1,500 miles of power lines, and more than 5,000 transformers. Rather than raising rates to recover these costs, the settlement negotiated by PSC staff resulted in a net decrease for customers. The company’s initial rate proposal earlier in 2026 would have saved customers only about $1.30 per month, according to Capitol Beat, making the final agreement a significant improvement.
PSC Chairman Jason Shaw said the rate relief comes at a meaningful time. “After recent rate increases caused by inflation, the war in Ukraine and other global phenomenon, it’s great to be able to offer some relief to Georgia Power ratepayers,” Shaw stated in a written statement after the vote. The approval was unanimous, though two newly elected Democratic commissioners voted unsuccessfully to amend the rate agreements with additional protections for ratepayers.
The rate decrease applies to fuel and storm recovery charges specifically. Georgia Power’s base rates remain frozen through 2028 under an earlier PSC decision, a policy that has helped limit overall bill growth even as the company faces rising infrastructure costs and demand from new large-load customers such as data centers. The company will file its next fuel rate adjustment request in February 2029.
Sources
- PR Newswire — Official Georgia Power announcement detailing the $50 annual savings, $285 million total savings, and settlement details (May 28, 2026)
- Capitol Beat News Service — Context on nuclear tax credits, Hurricane Helene damage costs, and initial rate proposal comparison (May 28, 2026)
- WSB-TV — Confirmation of $4.04 monthly savings and June 2026 effective date (May 29, 2026)
- Georgia Power — Company rate changes page and official press releases confirming settlement and savings amounts
