The second of three credits—totaling around $96 million—associated with the Tax Cuts and Jobs Act of 2017 will be applied directly to Georgia Power customers’ bills during the month of June.
The credits are a result of the reduction in Georgia Power’s federal corporate tax rate from 35 percent to 21 percent.
As a result of this reduction, Georgia Power customers will have received a total of $330 million in direct credits over a two-year period.
“At Georgia Power, we work every day to provide the highest customer value through customer service and the delivery of clean, safe, reliable and affordable energy with rates below the national average,” said Kevin Kastner, vice president of customer service for Georgia Power. “We are pleased to continue to pass along benefits to our customers through these direct credits on Georgia Power bills this month.”
The Tax Cuts and Jobs Act benefits were approved in March 2018 as part of an agreement with Georgia Public Service Commission (PSC) Staff. In total, Georgia Power is providing three separate credits to customers that will total $330 million.
The first credit of $131 million was issued in October 2018, the second credit, totaling $96 million is being applied this month and the third credit of $103 million is scheduled for February 2020.
According to a release, Georgia Power customers will receive the credit based upon energy consumption from September 2018 through April 2019.
The typical residential customer using an average of 1,000 kilowatt-hours per month would receive a credit of approximately $18 on their June Georgia Power bill.
The actual amount of the credit will vary based on a customer’s specific energy usage, the release clarified.