Georgia Power has received approval from the Georgia Public Service Commission (PSC) to move forward with a plan to secure about 9,900 megawatts (MW) of new generation resources. The initiative aims to meet increasing energy demands in the state and deliver cost savings for electric customers.
The decision comes after an agreement between Georgia Power and the Public Interest Advocacy Staff. Under this agreement, Georgia Power will file its next base rate case in 2028, ensuring that additional revenue from large-load customers will result in benefits totaling at least $556 million annually. For typical residential customers using 1,000 kilowatt-hours per month, this equates to monthly savings of $8.50 or roughly $102 per year.
Kim Greene, chairman, president and CEO of Georgia Power, commented on the agreement when it was reached: “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 PSC’s approval follows months of review after Georgia Power’s original filing in July. The company sought certification for 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 capacity, and upwards of 2,800 MW through power purchase agreements. These projects are expected to benefit all customers as part of a diversified energy mix and bring economic impacts to communities throughout Georgia.
According to data from the Georgia Department of Economic Development, recent growth has resulted in investments exceeding $26 billion and over 23,000 new private sector jobs created during the last fiscal year across the state.
“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,” Greene said. “We appreciate the work of the PSC, and all those who participated in this important process.”
Georgia Power will continue submitting quarterly reports on large-load growth projections and demand forecasts to the PSC. Its most recent report indicated thousands of megawatts in new electrical load expected over coming years with construction underway or planned for nearly 30 major projects statewide.
After updates approved by the PSC earlier this year regarding company rules and regulations, potential large-load customers now face stricter requirements such as higher financial commitments and proof of infrastructure readiness before being included in long-term planning forecasts. More than three gigawatts worth of new customer contracts have been filed under these updated standards so far this year.
For further details about how Georgia Power is working toward reliable and affordable service for homes and businesses across Georgia visit www.GeorgiaPower.com.
