Why are energy bills increasing throughout the state of Georgia? While energy bills have universally increased throughout the United States and even worldwide, Georgia utility users have been on the wrong end of some unfavorable circumstances that haven’t helped mitigate these rising costs.
In this post, we’ll dig into why your Georgia energy bill has gone up – and why it continues to go up. We’ll also discuss what you can do about it and how Green Line Rates can help. Read on to learn more or contact us today.
Why the Georgia Power Bill Increase Keeps Growing
First, there was a 12 percent price hike back in December 2022. Then another 12 percent price hike took effect about six months later. Now, more recently, the Public Service Commission approved an additional 6 percent in December 2023 – and another one may soon be on the way. Do the math – that’s a 30 percent price hike since December 2022 alone.
So what’s the reasoning behind these price hikes? Georgia is building nuclear power plants – and two of the units as part of the Plant Vogtle project are running way over budget. It’s believed that these price hikes will help offset those costs and allow Units 3 and 4 to be adequately built. The Vogtle expansion represents the first nuclear reactor constructed in the United States in about 30 years, part of a larger commitment by the U.S. to triple its nuclear energy capacity by 2050 as it attempts to reach carbon neutrality.
Georgia Makes Several Price Hikes in 2023
It shouldn’t be surprising to learn that these price hikes were met with a lot of concern and criticism. Some argue that these hikes are concerning, especially considering the relatively small amount of power the Plant Vogtle nuclear reactors generate. Aside from the impact on consumers’ pocketbooks, there’s also frustration about how over budget the project has run. In the end, it’s consumers who have lost out the most due to mishaps from others.
At the same time, Plant Vogtle is now the largest generator of clean energy in the United States, which is especially important to note as the country and the world look to reduce carbon emissions. According to an official press release from Georgia Power, Plant Vogtle produces more than 30 million megawatt hours of electricity each year. Unit 4 alone, which came online in April 2024, produces enough energy to power 500,000 homes and businesses. Unit 3 came online in July 2023.
Why Power Bills Were Increased
As we noted throughout this post, power bills have largely increased to cover the construction of Plant Vogtle’s Unit 3 and 4 nuclear systems – and the costs are way over budget. To adequately pay for the costs of these endeavors, something had to give. Unfortunately for consumers, the Public Service Commission has decided to let the people bear the brunt of the missteps.
Georgia Sees More Power Bill Hikes in 2024
While utility costs are increasing throughout the United States, the rise in cost has been particularly impactful in Georgia thanks largely to the aforementioned Plant Vogtle units. Again, there’s a bit of a value proposition in the power rate hikes, as much of the energy generated is clean and emissions-free and will help toward the greater good of the environment. But to say that the rate hikes are going to strain the budgets of residents and business owners is an understatement.
Power Bills in 2025 & Beyond
Things seem to be somewhat stable for now with the Plant Vogtle Unit 3 and 4 reactors now online and powering homes and it’s unlikely that consumers will be able to stomach another rate hike anytime soon.
Will Power Bills Ever be Reduced?
Time will tell, and once enough money is raised to help offset the construction of the Plant Vogtle Unit 3 and 4 reactors, it is a possibility that consumers will see some relief. But think of price reductions on the grander scale – once something goes up in price and consumers make plans accordingly to budget for the costs, it’s unlikely that they’ll be going back down. Again, these rate hikes are a bit of an outlier, as they were approved to help fund the construction of a power plant, so it is a possibility that relief is on the way.
Deliver Savings to Your Bottom Line with an Energy Audit!
Georgia consumers don’t have to wait for rate reductions to take place – there are numerous steps they can take to reduce their energy bills. One of the most common tactics is to conduct an energy audit. Energy audits involve a qualified auditor carefully examining your business’ utility bills to check for any compliance errors, examine negotiation opportunities to secure better rates, and identify other opportunities to reduce costs on what you’re paying.
In some cases of identified compliance errors, an auditor may be able to recoup any previous bills that were paid in error, recouping past costs and ensuring your bills are reduced in the future. Audits may be able to identify other ways to save money, like by using renewable energy and taking other measures.
What’s more, is that you have nothing to lose when you work with a firm like Green Line Rates on your energy audits. If we don’t deliver savings, you won’t owe us anything. Contact us today to learn more about our energy audit services.
Contact Green Line Rates Today
For more information on the Georgia power rate hikes and what you can do to help save money and deliver savings to your bottom line, contact Green Line Rates today.