Southern Company earnings jump to $1.5 billion in third quarter
Despite the sunny earnings report, Georgia Power — Southern’s largest subsidiary — is pushing state regulators to approve another major rate increase that would hit its 2.7 million customers’ bills starting next year .Beginning in January, the average Georgia Power residential customer’s bills could climb by $14.32 each month . That would be followed by smaller increases of $1.35 per month in 2024 and $0.62 per month in 2025. All told, households could see their annual bill go up by almost $200 over the next three years .
Those aren’t the only hikes likely to hit Georgia Power ’s electricity customers in coming month s and years .
Once Plant Vogtle’s two long-delayed and over-budget nuclear reactors come online, Georgia Power is expected to ask the five members of the Georgia Public Service Commission (PSC) to allow the company to recover the costs of building the units from its customers.Vogtle Unit 3 is expected to begin generating electricity in the first quarter of 2023, with Unit 4 joining it by the end of 2024. Earlier this month , Georgia Power loaded fuel into Unit 3, a significant step toward generating electricity from the first commercial nuclear units built in the U.S. in three decades.Then, next February , the company will make its case at the PSC recovery of costs it has paid for the coal and gas it burns at power plants .
PSC staff estimate those combined requests could add another $55 to $60 to the average month ly bill.
Despite the sunny earnings report, Georgia Power — Southern’s largest subsidiary — is pushing state regulators to approve another major rate increase that would hit its 2.7 million customers’ bills starting next year.
Beginning in January, the average Georgia Power residential customer’s bills could climb by $14.32 each month.
Those aren’t the only hikes likely to hit Georgia Power’s electricity customers in coming months and years.
Then, next February, the company will make its case at the PSC recovery of costs it has paid for the coal and gas it burns at power plants.
