Georgia Power said this week that it has filed a request with the Georgia Public Service Commission (PSC) to lower its fuel rates by 11 percent, a move the company said is fueled by lower natural gas prices.
The company said this would amount to $268 million saved in annual billings, should the request be approved.
The company said this rate is unrelated to set base rates. The company does not profit off of fuel costs and is allowed to recover prudently incurred fuel costs. As a result of this, the company will be submitting a filing for base rates that will likely increase going into 2016. The company predicts that the reduction would offset a potential increase to base rates.
Georgia Power has a diverse portfolio of energy generation that includes natural gas at the McDonough-Atkinson Plant, nuclear generation and solar panels alongside hydroelectric, coal and wind-power generation. Solar energy will see additional panels being installed across the state, and the Alvin W. Vogtle Nuclear Power Plant is constructing two nuclear units.
Georgia Power is a subsidiary of Southern Company, and it generates and distributes electricity to approximately 2.4 million customers throughout most of Georgia.
