(WTVM) - Georgia Power customers can expect to have a little bit of extra money in their pockets soon.
An agreement between the company and its regulators was announced earlier this week.
Starting next month customers will pay 14 percent less for the fuel portion of their electricity bills.
The reason for the lower prices is due to declining natural gas prices.
Customers will save $424 million, and the savings will subtract $5 from the average residential bill.
However, there will be two scheduled increases in other aspects of the bill. One would increase the base rate, designed to cover the costs of equipment and wires as well as pollution controls.
The second is part of the phase in of the financing costs for constructing two nuclear reactors at Plant Vogtle.
According to Georgia Power spokesman John Kraft, the average residential bill is still expected to be $2 lower every month after all additions and subtractions.