Alabama Freezes Electric Rates, No Formal Hearings

0:00It's April 2nd. Welcome in. This is Birmingham News Today, where local news meets AI. I'm Corey with the story. Alabama Governor K.I.V. just signed House Bill 475 into law, freezing electric rates across the state. This power to the People Act passed the House in Senate yesterday after some big tweaks. It's aimed at keeping utility costs steady for folks paying those monthly bills. The Bill's sponsor, State Representative Mack Butler, ended up voting against the final version. He pushed for mandatory formal rate hearings by the Public Service Commission to check utility spending and push for fair prices. But that key piece got cut, leaving no real force to make companies open their books if rates climbed too high. These hearings could slash your power costs, but the PSC hasn't held one since 1981. That's over four decades without a deep dive into why Alabama rates might not stack up against other states. Butler, who's 62, remembers it like it was yesterday from high school.

1:00What stayed in the bill is a change to those hearings whenever they happen. Now utility bosses have to show up sworn under oath, with perjury on the line if they lie about the numbers. Alabama power hasn't commented yet on how this shakes out. Governor I.V. says this freeze protects Alabama's spot as a top 10 state for low cost of living and number one for straight up affordability, the best place to live, work, and raise kids. With rates locked in and more voices on the commission, everyday people might finally catch a break on their power tabs.