(WTVM) - A nearly more than $2 reduction in customer's power bills in 2016 and a flat rates to continue for the next three years will have users of Georgia Power happy.
On Thursday, the company announced that its base electric rates will remain flat through 2019. The news came following a vote by the members of the Georgia Public Service Commission in an agreement connected to a pending merger with AGL Resources and Georgia Power's parent company, the Southern Company.
Customers are already seeing lower bills in 2016 due to the lower price of natural gas.
"Georgia Power consistently offers rates that are below the national average. In the past 26 years, the company's total retail rate has averaged more than 13 percent below the national average," a Georgia Power press release said. "The company's total retail price of $9.22 per kilowatt-hour at the end of 2015 was more than 14 percent below the national average."
The three-year rate assurance is in addition to a net reduction of approximately $2.50 in the overall monthly bill for the typical residential customer primarily driven by a 14 percent decrease in the fuel rate. This reduction was effective Jan. 1, 2017.
"The company's next base electric rate case was originally scheduled for this summer," the press release continued. "However, as part of the agreement, Georgia Power, Southern Company, AGL Resources, Georgia PSC Staff and other parties agreed that the company's next base electric rate case should be postponed until July 2019 to ensure that benefits that the potential merger could bring to Georgia customers can be fully realized."
To learn more about how Georgia Power delivers clean, safe and reliable electricity at an affordable price, as well as customized rate plans and energy efficiency programs to help customers save money and energy every day, visit www.GeorgiaPower.com.