Georgia Power plans to issue credit on February bills. According to a media release by the company, the third of three bill credits associated with the Tax Cuts and Jobs Act of 2017 will be applied directly to customers’ bills for this February. The credits are a result of the reduction in Georgia Power’s federal corporate tax rate from 35 percent down to 21 percent.
Customers will receive the February credit totaling $106 million based upon energy consumption from May until December 2019. The typical residential customer using an average of 1,000 kilowatt-hours per month would receive a credit of approximately $22 on their Georgia Power bill in February; actual amount of every individual credit will vary based on that customer’s specific energy usage.
The Tax Cuts and Jobs Act customer benefits were initially approved back in March 2018 as a part of an agreement with the Georgia PSC (Public Service Commission) staff. Georgia Power will have provided three separate credits to customers totaling $330 million. The first credit was applied in October of 2018; the second was applied last June.