Georgia Power Customers Will See a Tiny Savings From a Corporate Tax Cut

Georgia Power customers, who have faced higher energy bills this summer, may see some financial relief starting in January 2025. The reduction in charges is coming their way thanks to recent changes in Georgia’s tax law.

💡 Why It Matters: This comes as families are struggling with rising utility costs, particularly during peak usage months. The promised savings, however modest, will offer some relief in an inflation-heavy economy.

📉 What’s Happening:

• The state lowered Georgia Power’s corporate tax rate by passing House Bill 1015 and House Bill 1023 in April.
• The change aligns corporate tax rates with the individual income tax rate, leading to savings for customers.
• Residential customers using 1,000 kilowatt-hours per month can expect to save about $2.25 per month.

⏳ Between the Lines: The impact on bills will be minimal, and it won’t happen for over a year. While a $2.25 monthly saving is better than none, it won’t be the financial fix many households need.

🌍 The Big Picture: The broader concern remains that energy costs continue to rise for many Americans, even as state-level tax policies attempt to provide relief. While these changes will help somewhat, they don’t address the underlying issues driving up energy costs in the first place.