Georgia Power CEO teases plans to lower rates, touts data center expansion
With many Georgia Power customers still frustrated by the cost of their monthly electricity bills, the utility’s CEO, Kim Greene, said in a speech Wednesday that the company will lower its rates this summer.
The comments came in a speech Greene delivered at the annual Eggs & Issues Breakfast hosted by the Georgia Chamber. The event is held each January to kick off the Georgia General Assembly’s legislative session and typically draws top political, business and academic leaders from across the state.
Greene told the sold-out crowd at Mercedes-Benz Stadium Wednesday that Georgia Power will submit a pair of filings to state regulators at the Georgia Public Service Commission next month that will “collectively lower rates starting in June 2026.”
It was not immediately clear how much savings Georgia Power customers can expect — or how long it will last.
A Georgia Power spokesperson confirmed the filings Greene referenced involve storm repair expenses the company has accumulated and the cost of coal, gas and nuclear fuel it has used at its power plants. The company is expected to submit both filings by Feb. 17.
As of last fall, Georgia Power had accumulated storm damage of around $900 million, almost all the result of Hurricane Helene, which the company has called the most destructive storm in its history.
Georgia Power includes a charge for fuel in customers’ monthly bills, but it’s not clear whether the company has over or undercollected on those costs. In its most recent filing in the matter with the PSC, the company redacted its latest fuel balance, calling it “trade secret” information.
Georgia Power executives have hinted since last summer that they may offer to lower bills when the two cases are submitted to the PSC for approval. But Greene’s comments represent the company’s most direct pledge yet to provide relief.
Since the start of 2023, the company’s residential customers have faced six rate increases, approved by a majority of the PSC’s members. That’s meant residential customers who use 1,000 kilowatt-hours of electricity each month — considered “average” for modeling financial impacts — have seen their monthly bills go up by an average of $43. For customers that use more power, the bill increases have been much more significant.
Georgians’ frustration with the rising cost to keep the lights on has been apparent on social media and at the PSC’s public hearings.
It appeared to reach a crescendo in two PSC elections last fall, which saw Democrats Alicia Johnson and Peter Hubbard handily defeat incumbent Republicans Tim Echols and Fitz Johnson. The two races were defined by “energy affordability” issues.
Georgia Power has already taken some steps to ward off additional rate hikes, at least for now.
With the PSC’s approval last summer, the utility agreed to keep its current base rates steady for three years through 2028.
Then, just before Christmas, the PSC gave the utility the go-ahead to add roughly 10,000 megawatts of gas-burning power plants, batteries and some solar to its system, mostly to serve data centers. In return, Georgia Power agreed to use revenue from data centers to offset other customers’ monthly bills. The utility has pledged to use the extra cash it anticipates to put $8.50 in “downward pressure” on residential customers’ bills.
But that doesn’t necessarily mean a rate cut or a bill credit is coming. It means the company will propose residential base rates starting in 2029 that are $8.50 lower than they otherwise would have been.
Any new, lower rates would likely only last through 2031, and critics say customer protections beyond then are threadbare.
In her speech Wednesday, Greene also pushed back emphatically on criticism of Georgia Power’s unprecedented data center-driven expansion. Consumer advocates have warned that the build-out will boost Georgia Power’s bottom line, while putting other customers at risk of further rate increases, if the data centers the utility expects don’t show up.
“In some regions of the country, that may be something to really worry about, but not in Georgia — not in Georgia,” Greene said.
The PSC has approved some changes to the utility’s billing rules that allow it to charge data centers more to cover their costs, but critics say more consumer protections are needed.
In his own speech to the Eggs & Issues crowd, Gov. Brian Kemp also vouched for Georgia Power’s data center plans.
“They’re doing it by encouraging smart, locally-driven growth and investment, and ensuring that large-load customers pay more,” Kemp said. “If we want to continue our run as the top state for business, that goal cannot be accomplished without smart, long-term investments in our energy grid.”
About the Author
Drew Kann is a reporter at The Atlanta Journal-Constitution covering climate change and environmental issues. His passion is for stories that capture how humans are responding to a changing environment. He is a proud graduate of the University of Georgia and Northwestern University, and prior to joining the AJC, he held various roles at CNN.
