ATLANTA — Georgia Power customers will get a break on their bills next month thanks to the tax reforms Congress enacted back in 2017.
The third of three bill credits associated with a reduction in the federal corporate tax rate from 35% to 21% will save the Atlanta-based utility $106 million, resulting in a credit of about $22 in February for the average residential customer.
“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,” Kevin Kastner, vice president of customer services for Georgia Power, said Tuesday in a prepared statement. “This final bill credit fulfills that commitment.”
The three bill credits totaling nearly $330 million were approved in March 2018 as part of an agreement with the state Public Service Commission’s staff. The first credit was issued in October 2018, and the second credit was applied last June.