Georgia Power Company, a subsidiary of Southern Company, has reached a settlement agreement with the Georgia Public Service Commission's Public Interest Advocacy Staff to potentially extend the alternate rate plan through December 31, 2028. This plan, originally approved for 2023 to 2025, would maintain base rates without adjustments for the years 2026, 2027, and 2028, except for storm damage costs. The agreement is subject to the approval of the Georgia PSC, with a decision expected by July 1, 2025. Under the agreement, Georgia Power's retail return on common equity would remain at 10.50% with a continuation of the approved equity ratio. If the agreement isn't approved, Georgia Power is required to file its next base rate case by the same date.