Georgia Power customers will get an additional $43.6 million in refunds from the company, the Georgia Public Service Commission announced Tuesday.
Those refunds would be in addition to $75 per customers that will come as part of the commission’s decision to allow the projects at Plant Vogtle to continue, the commission confirmed.
The new refunds come about because the commission limits what the company can earn at up to 12 percent on its return on equity and the company exceeded that in calendar year 2016, the commission said. For any income above that, the company is required to return two-thirds of it to its customers, the commission said. The amount per customer and when those refunds will happen will be determined later.
The new refunds are not related to refunds that were made as a condition of allowing the company and its partners to proceed on completing two new nuclear reactors at Vogtle. The company had received a $1.7 billion settlement with Toshiba, the parent company of its former main contractor on that project.
The commission required that Georgia Power customers be given a $25 refund for three consecutive months this year, labeled as a “Vogtle Settlement Refund” on their bills, sometime before the third quarter of this year.
Georgia Power has also been ordered to file with the commission by Feb. 20 what impact lowering the corporate income tax from 35 percent to 21 percent this year will have.
Reach Tom Corwin at (706) 823-3213 or firstname.lastname@example.org