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Alabama Power's Long-Term Commitment to Rate Stability

In a strategic move announced after a meeting with the Alabama Public Service Commission, Alabama Power has vowed to maintain customer rates at current levels through 2027. This initiative assures customers that their electricity costs will not be subject to rises, providing much-needed stability in a time of fluctuating living expenses.

Moses Feagin, Alabama Power's executive vice president, chief financial officer, and treasurer, articulated the company's understanding of the financial pressures faced by households and businesses. He stated, "We know budgets are tight, and power bills are a real concern for many families and businesses." This perspective highlights the company's commitment to positioning itself as a supportive partner in managing everyday financial challenges.

Ensuring Financial Certainty

The utility firm has committed to prevent any increases in regulated retail rates until 2027. To accomplish this, Alabama Power plans to postpone the inclusion of costs associated with the recently acquired Lindsay Hill generation facility until 2028. As part of this strategy, the company will absorb the operational costs of this facility in 2027, further aiding in keeping customer charges stable.

Since 2017, Alabama Power has successfully reduced its operating expenses by approximately $100 million, despite increases in equipment costs for essential infrastructure, including poles, transformers, and wires. This cost control measure showcases the company’s dedication to enhancing its energy grid while investing in resilient infrastructure designed to withstand storms and ensure reliable service delivery across Alabama.

Innovative Tools for Bill Management

While the commitment to steady rates is a positive aspect, it's important for customers to recognize that their individual energy bills may fluctuate based on their usage. To help households better manage their electricity expenses, Alabama Power is introducing several user-friendly tools. These include resources like the Bill Explainer, Rate Advisor, Energy Assistant, Budget Billing options, and payment assistance programs, each designed to provide clarity and support. These initiatives reflect Alabama Power’s commitment to helping customers navigate their monthly expenses more effectively.

Looking Ahead

Moving forward, Alabama Power’s unwavering focus will be on creating efficient operations and smart energy solutions. Customers can anticipate ongoing improvements in service reliability and investments into the modern grid infrastructure that prioritizes resilience and safety. The available customer resources underscore the company’s efforts to enhance the customer experience by providing essential tools and support.

For further details on effective strategies to manage your power bills, visit alabamapower.com/save.

About Alabama Power

Alabama Power is a subsidiary of Southern Company based in Atlanta, providing reliable electricity to 1.5 million customers throughout Alabama. The company's long-standing reputation for service excellence is complemented by its commitment to community support and investment in sustainable energy solutions. To learn more, visit their official site at alabamapower.com.