Alabama Power Commits to Keep Customer Rates Steady Through 2027

Alabama Power has announced its commitment to keep customer rates steady through 2027 while maintaining the dependable service for customers.

All components of Alabama Power's regulated retail rates are not scheduled to increase through 2027.

"This commitment gives customers more certainty and predictability around electric rates at a time when many other household and business costs are rising,” said Moses Feagin, Alabama Power's executive vice president, chief financial officer and treasurer.

Alabama Power will secure all existing factors in customer rates, including delaying the implementation of previously approved adjustments for the Lindsay Hill generation facility, until 2028. The company will also absorb the newly acquired facility's costs in 2027 rather than shifting the costs to a later date, as part of the commitment to keep rates steady.

"Since 2017, Alabama Power has reduced operating expenses by about $100 million despite the cost of equipment, such as transformers, poles and wires, increasing significantly during this time," Feagin added. "We will not waiver in our efforts to strengthen the energy grid and invest in smart, storm-resilient infrastructure, so customers receive the reliable service they deserve in communities across our state."

While rates will remain level through 2027, bills are expected to increase or decrease based on the amount of electricity a customer uses each month. Alabama Power is pairing rate stability with tools and assistance to help customers manage their bills. These include the company's Bill Explainer, Rate Advisor, Energy Assistant, Budget Billing and payment assistance programs to help customers better understand their bill, select options suitable for their needs and requirements.