Governor Brian Kemp recently reached an agreement with Georgia Power to freeze energy rates for three years. Kemp celebrated it as a win for Georgians and the state’s image. However, it has been sharply criticized with claims of extreme profiting.
A recent press release details how profitable Georgia Power is. According to the Federal Energy Regulatory Commission (FERC), it manages to dwarf its peers from other states.
Georgia Power makes $30 more of net operating income per customer than the average comparable company. With this in mind, it is understandable how the company is set to make record profits.
Some of this profit has been linked to bill increases. Executive Director of Georgia Conservation Voters, Brionté McCorkle, commented on the company’s relationship to the Georgia Public Service Commission (PSC).
The commission has approved several of Georgia Power’s bill increases. McCorkle stated, “Voters know the score. They live it every month when that bill comes due. The PSC has voted to raise bills several times since 2023, and these increases had nothing to do with the base rates.”
Furthermore, Kemp’s new agreement was heavily criticized by the Executive Director of Georgians for Affordable Energy, Patty Durand.
Durand stated, “Executives, Public Service Commissioners, and Governor Kemp can hide behind whatever creative accounting, misleading language, or sleight of hand they want – the math is the math.”
Durand is under the impression that the rate freeze doesn’t mean much in the grand scheme. Bills will increase regardless of rates. Durand continued, “Georgians will no longer be gaslit by a state-sanctioned monopoly built on old money and greed.”
Bill increases are due to fuel costs and the PSC’s handling of a new power plant. The press release concludes with criticism of Kemp’s emphasis on tax refunds. The implication is that tax refunds don’t mean much in the face of bill increases.
