Alright, let's get this straight. Alabama Power, fresh off the heels of some nasty storms leaving half the state in the dark, is now trying to play the hero by "freezing" rates through 2027? Give me a break.
The "Generosity" Play
So, the official line is that Alabama Power, in its infinite wisdom and overflowing compassion, is gonna "help customers manage their power bills" because, get this, "budgets are tight." Oh, now they notice? After years of raking in profits while people sweat through the summer and freeze in the winter? Alabama Power says it will freeze electricity rates through 2027: ‘We know budgets are tight’
They're acting like they invented the idea of cost containment, relying on "internal cost containment measures." Translation: they'll probably squeeze even more out of their existing infrastructure and workforce, while still finding a way to line their pockets. And let's not forget the classic "weather, natural disasters, changes in fuel markets" disclaimer—aka, the get-out-of-jail-free card for when this whole charade inevitably falls apart.
And what's this about using customer refund amounts from Rate RSE to pad their Natural Disaster Reserve, which is currently in the negative? Correct me if I'm wrong, but shouldn't that reserve be, you know, reserved? It's like robbing Peter to pay... well, Peter, but with a hefty "convenience fee" for Alabama Power. Are we seriously supposed to applaud this?
The Fine Print (and the Storm Clouds)
Let's talk about those storms. Nearly 40,000, then 50,000, people without power. Downed trees, impassable roads... and Alabama Power's grand solution is a rate freeze? How about investing in some goddamn infrastructure upgrades that can withstand a stiff breeze, instead of patting themselves on the back for not raising rates more? Alabama power outage: Over 50,000 without electricity as storms knock down trees and power lines
It's like offering someone a glass of water after you've set their house on fire. Appreciate the gesture, but maybe focus on, I don't know, not being the arsonist in the first place?
And the timing of this announcement? Convenient, to say the least. A little PR boost after a statewide power outage is a bit too on the nose, don't you think?
Oh, and they're delaying the implementation of Rate CNP, Part A, adjustment until January 2028. So, basically, they're kicking the can down the road. We'll all forget about this "freeze" in a couple of years, and then BAM! Rate hike time. It's the long con, folks.
I'm looking at this and it reminds me of that time I tried to fix my car with duct tape and a prayer. Seemed like a good idea at the time, but it ended up costing me way more in the long run. Is that what's happening here? Are we being set up for a bigger fall later down the road?
The Bottom Line
So, what are we left with? A company that's trying to look good after a disaster it could have mitigated, promising a rate freeze that's likely just a temporary Band-Aid on a much bigger problem. They want us to believe this is about helping customers, but let's be real: it's about protecting their bottom line and managing their public image.