Alabama Power will freeze its rates for two years

The Alabama Public Service Commission Tuesday approved a rate moratorium requested by Alabama Power.

The consent order imposes a two-year halt on increases to the fuel cost to generate electricity; the cost for operating Alabama Power’s power-generating plants; the cost of purchasing power from other companies, the cost of complying with government regulations and rate that guarantees a specific rate of return for the company, known as Rate Stabilization Equalization (RSE).

“We know budgets are tight, and power bills are a real concern for many families and businesses,” said Moses Feagin, Alabama Power’s executive vice president, chief financial officer and treasurer. “This commitment gives customers more certainty and predictability around electric rates at a time when many other house