Georgia Power ordered to refund $43.6 million to its customers

Georgia Power has been ordered by a state commission to refund $43.6 million to its customers.

The Georgia Public Service Commission, which ordered the refund, said an amount due per customer, as well as the date and refund will be received, is to be released in a later filing.

The five-member commission said the refunds are necessary because the electric company has exceeded its approved return on equity for calendar year 2016. In essence, it made more money than expected.

Georgia Power has nearly 2.5 million customers throughout the state, with just over 2.1 million of those residential customers. The balance are commercial and industrial users of its electricity.

In a separate matter, the PSC ordered Georgia Power to file a report by Feb. 20 on the effects that the Tax Cuts and Jobs Act will have on the company. The measure, signed by President Trump just before Christmas, cuts the corporate tax rate from 35 percent to 21 percent starting Jan. 1 of this year.

That possibly could mean more refunds coming the way of Georgia Power customers down the road as its tax burden decreases.

This story was originally published January 17, 2018 at 3:08 PM with the headline "Georgia Power ordered to refund $43.6 million to its customers."