State approves $330M in refunds for Georgia Power customers
State officials say $330 million in refunds to Georgia Power customers have been approved as a result of President Donald Trump's tax overhaul.
ATLANTA (AP) - State officials say $330 million in refunds to Georgia Power customers have been approved as a result of President Donald Trump's tax overhaul.
News outlets report the Georgia Public Service Commission unanimously approved the refunds Tuesday to customers over the next three years because of the lower corporate tax rate under the Tax Cuts and Jobs Act that Trump signed into law Dec. 22.
Commission Chairman Lauren "Bubba" McDonald said in a statement that the utility's customers will enjoy the benefits from the act that lowered the corporate tax rate from 35 percent to 21 percent.
Residential customers using at least 1,000-kilowatt hours per month will receive bill credits totaling roughly $70 from 2018 to 2020.
Georgia Power has 2.5 million customers in all but four of the state's counties.
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