Georgia Power's contract with OpenAI approved; Latest approval part of portfolio of large-load contracts delivering approximately $950 million in annual savings beginning in 2029

Large-load growth continues to provide benefits to customers with expected savings for Georgia Power customers to increase to $180 per year for the typical residential customer; Agreement builds on company's prior base rate freeze and overall reduction in rates announced this summer ATLANTA , Aug. 26, 2026 /PRNewswire/ -- Today, Georgia Power announced that its contract to serve OpenAI's new project in Effingham County has been approved as part of the regulatory process with the Georgia Public Service Commission (PSC). This marks the latest step in the company's proactive strategy to ensure Georgia's growth benefits the customers it serves. With the projects announced to date and projected future growth in the state, Georgia Power customers are expected to see savings of at least $15 per month beginning in 2029 for the typical residential customer using 1,000 kilowatt-hours per month, an increase from the company's December 2025 commitment of $102 per year to $180 per year. The increased savings for customers are the result of projected incremental revenue from new large-load customers that is expected to provide savings of approximately $950 million per year, increasing customer benefits to $2.847 billion over the three-year period of 2029-2031. The company's contract with OpenAI was filed with the Georgia PSC in July and includes 3,200 megawatts (MW) of new demand. Under that agreement, OpenAI will pay the full cost of the infrastructure needed to serve it and has committed up to 1,000 MW of flexible demand response, which enables Georgia Power to reduce energy delivered to the facility during periods of high demand and invest in fewer new generation resources to serve future growth. Read more here: Georgia Power to serve OpenAI project in Effingham County . When the first signs of projected extraordinary growth appeared in the state, Georgia Power began developing a framework with the Georgia PSC designed to turn that projected growth into lower costs and higher reliability for customers. Today's announcement also follows the prior freeze on base rates approved by the Georgia PSC in July 2025, as well as the plan approved in May 2026 to lower overall rates. "We know every dollar counts, and we know that in many parts of the country growth is pushing electric rates up. That is not happening in Georgia," said Kim Greene, chairman, president and CEO of Georgia Power. "In December, we committed to $102 a year in savings for the typical family beginning in 2029. Today, that number is expected to be $180. We appreciate the continued diligence of the Commission and its staff in helping us deliver these savings for customers, and ensuring the right protections are in place for the millions of Georgians we are privileged to serve." Since 1990, Georgia Power has offered rates, on average, 15 percent below the national average while also offering flexible rate plans for residential and business customers, as well as a wide variety of programs to help customers save money and energy. With new residents moving to the state and large-load customers like data centers and manufacturers choosing Georgia, Georgia Power and the Georgia PSC took early action to put protections for customers in place by introducing new Georgia PSC Rules and Regulations . In addition, the company made a broader commitment to customers in the Georgia Power Customer Protection Pledge which reaffirms the company's commitment to serving the interests, the communities, and the priorities of its 2.8 million customers. "Data centers are paying more so families and small businesses can pay less, and our goal with every contract we sign under this framework is to deliver value for them," added Greene. "Our customers depend on us for reliable and affordable energy every day, and that is the focus behind every decision we make." To learn more about how Georgia Power is keeping energy reliable and rates stable for millions of Georgia homes and businesses, visit www.GeorgiaPower.com . About Georgia Power Georgia Power is the largest electric subsidiary of Southern Company (NYSE: SO ), America's premier energy company. Value, Reliability, Customer Service and Stewardship are the cornerstones of the company's promise to 2.8 million customers in all but four of Georgia's 159 counties. Committed to delivering clean, safe, reliable and affordable energy, Georgia Power maintains a diverse, innovative generation mix that includes nuclear, coal and natural gas, as well as renewables such as solar, hydroelectric and wind. Georgia Power offers rates below the national average, focuses on delivering world-class service to its customers every day and the company is recognized by J.D. Power as an industry leader in customer satisfaction. For more information, visit www.GeorgiaPower.com and connect with the company on Facebook ( Facebook.com/GeorgiaPower ), X ( X.com/GeorgiaPower ) and Instagram ( Instagram.com/ga_power ). Cautionary Note Regarding Forward-Looking Stat