Georgia Power customers won’t see base rate hikes through 2028
PSC approves three-year plan to keep Georgia Power base rates steady and delay storm cost recovery.
ATLANTA (41NBC/WMGT) – Georgia Power customers will see no increase to base electric rates through at least 2028 after state regulators approved a three-year rate freeze.
The Georgia Public Service Commission unanimously approved the plan following a public hearing that included more than seven hours of testimony, according to a news release from the PSC. The decision keeps Georgia Power’s base rates at current levels and cancels the company’s expected 2025 rate case filing.
“This is nothing but good news for Georgia Power ratepayers,” PSC Chairman Jason Shaw said. “Customers have seen unprecedented inflation in the energy sector across the U.S. My fellow Commissioners and I urged staff and Georgia Power to come to some agreement where base rates would not increase.”
Base rates represent the standard amount customers pay for electricity before any fuel charges or taxes.
According to a separate news release from Georgia Power, the plan was first outlined in a May agreement between the utility company and the PSC’s Public Interest Advocacy Staff. The move extends an alternate rate plan previously approved in 2022.
“The rate freeze resulting from this plan is a great result for customers, balancing the mutual benefits of extraordinary economic growth among all stakeholders and helping to ensure that we remain equipped to continue supporting growth in this state,” Georgia Power Chairman, President and CEO Kim Greene said.
PSC Vice Chair Tim Echols said the decision provides protection for families and businesses in Georgia.
“Freezing Georgia Power’s rates today is the best way to protect ratepayers against inflation and market volatility,” Echols said.
The agreement delays any request by Georgia Power to recover costs from recent storms—including Hurricane Helene—until a separate proceeding scheduled for 2026. An audit of those storm-related expenses is already underway, according to the PSC.
Commissioner Tricia Pridemore said the freeze will help maintain the state’s strong energy position.
“While states such as New York, Illinois and California have seen substantial spikes in electric rates, this Georgia Public Service Commission is providing stability to allow for the continued growth and reliability that makes Georgia the number one state for energy,” she said.
Georgia Gov. Brian Kemp also commented on the decision in a Facebook post on Tuesday.
“Great news for hardworking Georgians and their families!” he said. “I’m thankful that the Georgia Public Service Commission and Georgia Power worked on an agreement that saves the people of our state money and reinforces our position as a place where individuals and businesses thrive.”
According to Georgia Power, the company serves 2.8 million customers statewide.
