ATLANTA — Georgia Power residential customers will receive an estimated $12 credit on their bills next month under a resolution the state Public Service Commission approved unanimously Tuesday.
The credit, based on the typical customer’s monthly use of 1,000-kilowatt hours, reflects a one-time refund of $61.6 million in earnings the Atlanta-based utility realized last year above its allowable return on equity (ROE) range. A rate increase the PSC approved last December set the ROE range at between 9% and 12%.
Paired with lower fuel rates Georgia Power implemented at the beginning of the summer, the typical residential customer will see a reduction of more than $17 in October.
Georgia Power customers have received several credits this year. In June, the commission approved an $11.29 credit resulting from $51.5 million in earnings above the allowable ROE band during 2018.
The utility rolled back its fuel rates in May, saving customers $10.26 per month, part of which came from an interim reduction the utility provided to help customers weather the economic impact of the coronavirus pandemic.
And back in February, Georgia Power passed on savings the company realized from the tax cut legislation Congress passed in late 2017, which came to about $22 a month for the typical residential customer.
The February savings came from the last installment of three reductions made possible by the federal tax cuts, which totaled $106 million.