Georgia Power's OpenAI Contract Approved by Georgia PSC

05:56 AM EDT, 08/27/2026 (MT Newswires) -- Southern's (SO) Georgia Power unit's contract to serve Microsoft-backed (MSFT) OpenAI's new project in Effingham County has been approved by the Georgia Public Service Commission, the company said Thursday. The agreement includes 3,200 megawatts of new demand, with OpenAI covering the full cost of the required infrastructure, while incremental revenue from new large-load customers is expected to generate approximately $950 million in annual savings. The utility expects savings for the typical residential customer to increase to $180 per year, or $15 per month, beginning in 2029, it added. Southern and Microsoft shares were down 1.7% and 1% respectively, in premarket activity.