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Moody's Ratings (Moody's) has upgraded the senior lien rating of Municipal Electric Authority of Georgia's (MEAG Power) Plant Vogtle Units 3 & 4 Project P revenue bonds (Project P) to Baa1 from Baa2. 

The outlook is stable.

ATLANTA – March 18, 2025 – MEAG Power today celebrated the 50th anniversary of its founding. The Municipal Electric Authority of Georgia was created on March 18, 1975 by an Act of the Georgia General Assembly and tasked with the mission of generating and transmitting reliable, affordable wholesale electricity to municipalities that operated their own electric distribution system.

“Though the world has changed dramatically since 1975, MEAG Power has remained steadfast in our focus on delivering reliable, cost-effective power to our 49 Participants,” said MEAG Power President & CEO Jim Fuller. “Our success in fulfilling this mission is a testament to the dedication and hard work of MEAG Power’s Board members and employees throughout the years, and the trust and support of our Participants. We thank the Participants for their long-held partnerships, and we look forward to continuing to serve their needs for many years to come.”

MEAG Power was born out of the desire of the Power Section members of the Georgia Municipal Association, known as the Electric Cities, to better control their energy future at a time when load growth was outpacing available generation and they were dependent on a single private utility for supply of increasingly costly electricity. The opportunity arose in 1974 for public power organizations in Georgia to acquire electricity directly from Plants Hatch and Vogtle, new nuclear projects that were in development. This required the creation of a legal Authority to function as an electric utility that could buy shares of ownership in the plants and supply the power to the members.

Once created, 47 of the 52 qualifying Electric Cities signed long-term power sales agreements with the Authority, with the city of Oxford joining in 1986 and Acworth joining in 2002.

Today, MEAG Power is recognized as a leading joint action agency in the U.S., with a diverse, clean energy portfolio – delivering, on average, 65% emissions-free energy since 2016 – that compares favorably with both state and national averages. It has 2,300 MW of total capacity from nuclear, hydro, natural gas and coal resources, with its first solar initiative under construction.

MEAG Power also owns 1,300 miles of high voltage transmission, more than 210 substations, and is a co-owner of the Integrated Transmission System (ITS), a 17,800-mile transmission network covering 90% of Georgia.

About MEAG Power: The Municipal Electric Authority of Georgia (MEAG Power) is a nonprofit, statewide generation and transmission organization created by the Georgia General Assembly in 1975. MEAG Power provides reliable, competitive wholesale electricity to its 49 member communities (Participants), who own their local distribution systems, through take-or-pay contracts. The organization also monitors and advocates on energy issues at the state and federal levels on behalf of its Participants. Recognized as one of the leading joint action agencies in the country, MEAG Power is among the top public power companies nationwide in terms of annual net generation, megawatt-hour sales and electric revenue. Its diverse, clean energy portfolio – delivering, on average, more than 65% emissions-free energy since 2016 – compares favorably with both the state and national averages.

Fitch Affirms MEAG Power GA's Combined Cycle Project Rev Bonds at 'A-'; Outlook Stable

Fri 01 Nov, 2024 - 3:17pm ET

Fitch Ratings - Austin - 01 Nov 2024: Fitch Ratings affirms the 'A-' rating on the following bond issued by the Municipal Electric Authority of Georgia (MEAG Power):

--$23.9 million combied cycle revenue bonds, series 2020A

The Rating Outlook is Stable.