Georgia Power has received approval from the Georgia Public Service Commission (PSC) to move forward with a plan to procure about 9,900 megawatts (MW) of new generation resources. The plan is intended to meet increasing energy needs as the state’s population and economy continue to grow.
The agreement, reached between Georgia Power and the Public Interest Advocacy Staff, includes a provision that ensures incremental revenue from large-load customers will provide at least $556 million in annual benefits. This translates to savings of approximately $8.50 per month, or about $102 per year, for typical residential customers using 1,000 kilowatt-hours monthly. These savings come in addition to a previously announced freeze on base rates.
Kim Greene, chairman, president and CEO of Georgia Power, commented on the agreement: “We know every dollar counts. This plan means more money stays in your pocket while we power Georgia’s future. Unlike any other market in the country, we’re doing things differently here in Georgia to capture and serve this projected unprecedented growth. Large energy users are paying more so families and small businesses can pay less, and that’s a great result for Georgians.”
The approved plan follows several months of review after an initial filing by Georgia Power in July. The proposal called for certification of over 3,600 MW of new combined cycle natural gas generation; more than 3,000 MW of battery energy storage systems (BESS); 350 MW of BESS plus solar; and over 2,800 MW through power purchase agreements. These additions are expected to benefit all customers as part of a diverse energy mix and support construction projects across various communities.
Georgia has seen significant economic expansion recently. According to the Georgia Department of Economic Development, more than $26 billion in investment and over 23,000 new private sector jobs are anticipated from recent economic development efforts.
Greene added: “Growth is good for Georgia and for communities of all sizes. The decision by the Georgia PSC today will help keep our state competitive by demonstrating that we are ready to meet the energy demands of new businesses for years to come. We appreciate the work of the PSC, and all those who participated in this important process.”
Georgia Power plans to continue submitting quarterly reports on large-load growth to the PSC. Its latest report indicates thousands of megawatts in new electrical demand expected over coming years with nearly 30 major projects underway or planned statewide. This increase helps maintain a three-year base rate freeze—excluding storm costs—by spreading fixed costs among more customers.
In January, updates were made requiring potential large-load customers to meet stricter financial commitments and infrastructure readiness standards before being included in long-term planning forecasts. So far this year, more than three gigawatts worth of new customer contracts have been filed under these rules with additional commitments under review.
For further information about how Georgia Power aims to ensure reliable and affordable electricity supply across millions of homes and businesses statewide, visit www.GeorgiaPower.com.
