Georgia Power has revealed plans to make investments focusing on the electric grid, clean energy resources and customer experience.
Georgia Power has already filed a request with the Georgia Public Service Commission (PSC). If approved, power rates would increase a total of under 12 percent over the next three years.
The typical residential customer using 1,000 kilowatthours per month would see an increase of $14.32 per month on their bill in 2023, $1.35 per month in 2024 and $0.62 per month in 2025, for a total increase of $16.29 over the three-year period.
The company has helped offset the rising cost of doing business through reduced operating costs, managing storm cost recovery and making smart financing decisions, said Chris Womack, chairman, president and CEO of Georgia Power.
Georgia Power expects to invest nearly $7 billion more — over the next three years — in transmission and distribution improvements, including $2.2 billion in the company’s on-going multi-year GIP.
Georgia Power has invested nearly $10 billion over the last ten years to strengthen the reliability and resiliency of its network for the benefit of the communities and people it serves. This amount includes approximately $4.9 billion invested in transmission and distribution infrastructure since January 2020 and projected through December 2022, of which $1.5 billion relates to the company’s GIP.
Georgia Power currently has more than 3,100 MW of renewable resources online and an additional 2,400 MW under development. The company is also planning to double its renewable generation by adding 6,000 MW by 2035, which includes a request for approval of 2,300 MW in its 2022 IRP. This new capacity would expand its renewable resource portfolio to approximately 11,500 MW by 2035.
Georgia Power plans to invest nearly $700 million in technologies that will enhance operations and benefit customers.
Implementation of a new Customer Information System (CIS) will integrate customer information into a single platform that enables customer service employees to quickly access customer information, allowing them to provide customers with more comprehensive and timely solutions.
Investment in Distributed Energy Resource Management System (DERMS) offers real-time visibility into the impact of distributed energy resources on the electric system and allows for enhanced monitoring and operational capabilities. A robust DERMS platform will enable Georgia Power to integrate distributed energy resources with both system and fleet operations.
Georgia Power will increase investments in electric vehicle (EV) charging facilities and necessary electric transportation infrastructure upgrades to support customer EV charging.
Georgia Power is working on developing an enhanced mobile app that will simplify mobile transactions, provide direct communications with customers impacted by service outages and notify customers regarding company offerings for which they qualify.
Georgia Power is developing a virtual platform that will help customers by answering general questions and processing a variety of customer transactions and plans to release a digital wallet option later this year, which will allow customers to make payments conveniently from their mobile devices and more.