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  1. Abstract For many middle‐income households, paying the electricity bill is a mundane, even mindless, act. But for an ever‐increasing number of low‐income families, the electricity bill—filtered through the racialized materiality of poor‐quality housing stock and antidemocratic price regulation—represents something more ominous: looming disconnection, eviction, and a deep spin of vulnerabilities. This article explores the materiality of race in the US South through the prism of southern utilities and maps the political landscape on which contestations over the value of energy are taking place. I ask, how do different conceptualizations of value by utilities, regulators, and energy justice advocates figure into the price of energy and racialized dispossession in the Deep South? I draw attention to the highly elaborated narrative politics of the value of Georgia Power's energy. In conversation with recent anthropological debates about value and “the just price,” I argue that Georgia Power's monopoly on public power engages and reinforces the racialized political economy of the South to produce high home energy prices for low‐income families. But it also provokes a decryption of these energy prices by energy justice advocates that connects the silent violence of energy injustice to people's everyday experiences of extractive utility bills. 
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