Pennies from the heavens
Customers of Alabama Power received some good news Tuesday.
The state Public Service Commission decided to decrease the cost of 1,000 kilowatt-hours for homes and apartments starting June 9. That translates to a 2.1-percent decrease from $130.29 to $127.57.
The abundance of rain the state has received in recent months has helped the company recover $328 million in losses. Lower fuel costs is another factor that has led to the reduced rates.
Tuesday’s approved cuts followed a 13.35-percent increase to help the company recover its losses.
Low lake levels due to droughts had forced Alabama Power to rely more on coal and natural gas and less on its hydroelectric dams, which was much more expensive to the company.
While we may have been inconvenienced because of the rain, it is helping our economy. Perhaps it couldn’t have come at a better time.