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Name:
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waterph
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Subject:
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Rate Increases Approved by PS
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Date:
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10/8/2008 8:24:42 AM
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Note the following article this AM in the Birmingham paper. Why require utilities to manage cost when they have a captive market and a PSC that will guarantee their profits. What control does the citizenry have over corporate America? Any similarities to AIG, Lehman Brothers, etc.?
PSC approves Alabama Power rate increase
Typical bill will go up $15 a monthWednesday, October 08, 2008 KIM CHANDLERNews staff writer
MONTGOMERY - The Public Service Commission on Tuesday unanimously approved two rate increases for Alabama Power Co. that will increase the typical residential bill by more than $15 each month.
The commission voted 3-0 to approve both an increase in fuel charges that Alabama Power passes along to customers and an increase in the flat monthly fee that customers pay to receive service. The regulatory board also approved the power company's first late fee on unpaid bills.
In return, Alabama Power officials agreed not to seek a general rate increase for 2009.
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"While we don't like this, it's a necessary evil," said Commissioner Susan Parker, who described the vote as one of the toughest decisions she's faced on the board.
Alabama Power spokesman Michael Sznajderman said the company sought the rate increases to deal with rising prices on commodities ranging from coal to copper and aluminum.
"We've been grappling with a significant increase in our costs," Sznajderman said.
The median monthly use by residential customers is 1,000 kilowatt hours - half of customers use more than that and half use less. For that consumer, the bill will rise from $112.90 to $127.97, including taxes, when all the changes take effect, Sznajderman said.
Rates will rise first this month and then again in January. Beginning Thursday, fuel charge rates will rise 8.24 percent for residential customers, 9 percent for commercial businesses and 14 percent for industries because of the fuel charge increase. A homeowner who uses 1,000 kilowatt hours each month will pay an extra $9.30 each month under this increase.
The commission also approved an increase in the monthly base charge that residential consumers pay to have service with Alabama Power. That charge will rise from $8.91 to $14.50 a month, beginning Jan. 1.
In addition, the company is proposing its first late fee of $2 or 1.5 percent of a late bill, whichever is higher.
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