Georgia Power agrees to hold rates steady, but that doesn't include hurricane recovery costs

Georgia Power Co. announced on Monday that it has agreed to a plan with regulatory staff to hold base power rates steady through the end of 2028, although customer bills could still rise in 2026 or later because of the costs of rebuilding from Hurricane Helene and buying natural gas and coal.

The five elected members of the Public Service Commission are scheduled to vote on the plan by July 1, according to a stock market filing. The commissioners, all Republicans, could reject or alter the plan, but negotiated agreements with staff historically have been very influential with commissioners.

John Kraft, a spokesperson for Georgia Power, said holding rates steady is a benefit “of the extraordinary economic growth taking place in our state.”