Georgia Power customers will notice a 3.5% increase in their monthly bills that started this month, translating to approximately $5.85 for the average household. This adjustment marks the sixth rate hike in just three years, following five previous increases in 2023, and is part of a long-term financial plan approved by state regulators in 2022.

The funds generated from this rate increase are earmarked for several critical initiatives, including infrastructure improvements, rising fuel costs, and the ongoing development of nuclear power capabilities. Specifically, the revenue will contribute to the completion of two nuclear power generators at Plant Vogtle, a project that has faced numerous challenges and delays over the years. Additionally, this increase will help Georgia Power recover costs stemming from the damages caused by Hurricane Helene, which impacted various energy resources and infrastructure across the state.

In a parallel effort, the rate hike aligns with the company’s commitment to invest in cleaner energy resources, reflecting a shift towards more sustainable practices in the energy sector. The decision to raise rates was unanimously approved by five Republican members of the Public Service Commission, allowing Georgia Power to recoup $306 million in investments.

In related financial news, Georgia Power’s parent company, Southern Company, recently reported third-quarter earnings of $1.5 billion