The state's utility regulatory board has refused to reconsider its new rate structure for Alabama Power Co.
The Public Service Commission voted 2-1 Tuesday to reject a request by AARP to reconsider the rate plan. The vote was the same as the PSC's decision in August to approve the rate structure. The PSC's top attorney recommended rejecting AARP's request and said the organization for older Americans had not presented any new issues.
The PSC is going to base Alabama Power's rates on the weighted cost of equity rather than return on equity, which has been used for the last 31 years.
Alabama Power predicts its rates will remain stable through 2014, but says the new plan will put downward pressure on rates over the long run. AARP wanted a rate reduction.
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