Georgia Power customers will soon see a little refund thanks to an order by the Georgia Public Service Commission (PSC).
The Public Service Commission says that Georgia Power earned more than “the approved rate of return on equity” during the 2016 calendar and, therefore, customers will see a refund on their accounts.
Neither Georgia Power nor the PSC announced when the refund will be added or how much each customer will receive.
According to WSAV, “The PSC is also telling Georgia Power that it must report back by Feb. 20 and indicate how much savings the company expects to glean from the new federal tax bill, which is lowering corporate tax rates.”
Georgia Power sent the statement below regarding the return on equity ordered refund to WSAV:
Georgia Power is committed to delivering clean, safe, reliable and affordable energy at rates that are consistently below the national average. The refund approved Tuesday by the Georgia Public Service Commission is a direct result of a constructive regulatory environment that benefits Georgia Power customers, and a component of the company’s current rate plan approved in 2013.The company maintains its long-term commitment to effectively manage its business, and share those benefits with its customers. The exact amount per customer and the date of the refunds will be determined in a later filing.