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17 May 2016

Customers to See Savings on Their Light Bills After PSC Votes to Cut Georgia Power Rates

Georgia Power customers will save an average of $4.60 a month beginning 1 June 2016 as the Georgia Public Service Commission (PSC) today unanimously approved a reduction in the amount Georgia Power collects each month to cover the cost of fuel used to generate electricity.

The $4.60 a month savings is for a typical residential customer using 1,000 kilowatt-hours. This rate decrease will result in a reduction of the Company’s total annual fuel billings of approximately $312 million.

“I am pleased that we can provide this rate relief to Georgia Power customers,” said Commission Chairman Chuck Eaton.

“Lowering consumer rates is something I have always stood for. This rate cut will put more money in consumers’ pockets and will help make sure that our electric rates stay well below the national average,” said Commissioner Tim Echols.

This is the second time in six months that the Commission has approved a reduction in Georgia Power fuel rates. The Commission on December 15, 2015 approved a reduction that saved the average residential customer using 1,000 kilowatt hours about $5.00 a month for a total reduction of 14 percent on their monthly bill. Including today’s cut, the Commission has reduced residential electric bills by almost $10 a month since December 2015.

Under state law, Georgia Power’s cost of fuel used for electric generation is passed along to customers on a dollar for dollar basis and the Company is not allowed to make a profit on the cost of fuel.

The Georgia Public Service Commission is a five-member constitutional agency that exercises its authority and influence to ensure that consumers receive safe, reliable, and reasonably-priced telecommunications, electric and natural gas service from financially viable and technically competent companies. For more information on the Commission visit their web site at www.psc.state.ga.us .