The Georgia Public Service Commission approved $330 million in refunds to Georgia Power customers. The action is a result of President Trump’s tax overhaul, officials said.
Residential customers using at least 1,000 kilowatt hours per month will receive bill credits totaling about $70 between 2018 to 2020.
Customers will see a reduction of $27 in their October bills. The PSC says the remaining reductions will be issued June 2019 ($20) and in February 2020 ($22).
“This Commission is pleased to ensure that Georgia Power customers will enjoy the benefits due to the lowering of the federal tax rate,” said Lauren “Bubba” McDonald, commission chairman.
Last December, President Trump signed into law the Tax Cuts and Jobs Act which lowered the corporate tax rate from 35 percent to 21 percent.
Meanwhile, Georgia Power customers will this month see bill reductions of $25 as the first of $75 credits set as a condition by the PSC last December for the expansion of the Plant Vogtle nuclear units located in Waynesboro.
The remaining credits will be applied in June and September this year.