Alabama House Passes Utility Rate Hike Bill
Birmingham News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Alabamas House of Representatives unanimously passed a bill, House Bill four seventy-five, to end decades of unchecked utility rate hikes. The bill mandates public rate cases every three years for investor-owned electric companies, including profit caps and stronger oversight. The Public Service Commission hasnt held a full rate case since 1982, relying on automatic formula adjustments that critics argue hide true profits. The bill transforms these reviews into formal hearings with subpoena powers to investigate costs. Public anger over utility lobbyists meddling in commission matters fueled this push. Alabama Powers returns on equity exceed the national average, and their parent company posted a profit of one point five billion dollars last year. The bill limits their returns to the regional average for similar utilities. The measure now heads to the Senate with little time left in the session.
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