ATLANTA, Ga. (WRBL) – Georgia Power announced it will issue credits to customers on their February bills totaling out to $106 million, due to the third of three bill credits related to the 2017 Tax Cuts and Jobs Act.
The credits come from the reduction of Georgia Power’s federal corporate tax rate, which dropped from 35 percent to 21 percent. According to Georgia Power, they have given $330 million in direct credits to customers over the past two years.
The credit customers will see on their accounts comes from how much power they used between May to December of 2019.
As an example, residential customers who used an average of 1,000 kilowatt-hours per month could receive a $22 credit on their February bills, according to the power company.
“Over the past two years Georgia Power has passed on the benefits from the Tax Cuts and Jobs Act through direct credits on customers’ bills, and this final bill credit fulfills that commitment,” said Kevin Kastner, vice president of customer services for Georgia Power. “These bill credits are just one way we work to provide the best value to our customers, while continuing to provide the clean, safe, reliable and affordable energy they expect and deserve at rates below the national average.”
The credit coming in February will be the third and final credit issued to customers, wit hthe credits first approved in March 2018 as part of an agreement wit the Georgia Public Service Commission, according to Georgia Power. The first two credits were issued in October 2018 and June 2019.