Georgia Power is seeking to raise rates for its customers again according to an article published in the Atlanta constitution journal.
The article states that Georgia power and the Georgia power public service commission staff came to a tentative agreement to drastically raise rates for customers as soon as June 1st. The stated reason for these additional hikes is the cost of coal, gas and nuclear fuel that is used in power plants.
This increase was first proposed on February 28th as a fuel cost recovery request. In this request Georgia Power sought to have its customers pay through increases that could range anywhere between 2.1 billion a 2.6 billion. For the average customer’s bill could go up by $17 to $23 dollars per month as a result.
The article continues and states that there is still a change that the rate increase may not be as large as this original projection. This is due to Georgia Power having to file a revised estimate of its future fuel expenditures by April 24th. This is being done since natural gas prices have fallen recently from pandemic highs, which could lower the rate hike, and to have a more recent forecast of natural gas prices.
This increase comes just months after another increase of 1.8 billion over three years was approved. Georgia power customers are already paying about $4 more a month than last year due to this increase and will see additional hikes in 2024 and 2025. In addition to these hikes, customers will likely see additional hikes once Georgia Powers new nuclear power plant being’s operation in May or June, which could add another 3 dollars to monthly bills.