Alabama House Passes Utility Rate Hike Bill

0:00I'm Cory with the story, and this is your Pulse of the City, Birmingham News today. Alabama's House of Representatives just passed a landmark bill that could end decades of unchecked utility rate hikes. House Bill 475 forces the Public Service Commission to hold public rate cases every three years for investor-owned electric companies. It passed unanimously, 104 to zero, and includes profit caps along with stronger oversight. For context, the Commission hasn't run a full-rate case since 1982. They relied on automatic formula adjustments instead, which critics say hide true profits. The bill makes these reviews formal hearings with sworn testimony and subpoena powers to dig into costs. Public anger fueled this push after reports expose utility lobbyists meddling in Commission matters. Bill's sponsor representative Mac Butler called it a direct response to that outrage. Everyday customers could see lower bills if certain expenses like lobbying and advertising get banned from rate-payer charges.

1:01New details show Alabama powers returns on equity exceed the national average of 9.74%. Their parent company posted $1.5 billion in profit last year, up 113 million from before. The bill limits their returns to the regional average for similar utilities. The measure heads to the Senate with little time left in the session. Commissioners risk impeachment for skipping hearings. After initial media scrutiny, the company filed to free some rates for two years, a move quickly approved. This episode is supported by our sponsor. Headphones in a pillow. Simple idea. Surprisingly addictive. S-O-L-I-S-O-L-L-Pillow.com. Made in AI.