MONTGOMERY, Ala. (AP)_State regulators have changed the main plan that governs Alabama Power Company's electricity rates.
The new plan lets Alabama Power increase prices at a rate of as much as five percent annually but not more than eight percent every two years.
Previously, rates were capped at a maximum of six percent every two years.
PSC spokesman Clark Bruner says state regulators believe consumers will save money in the long run.
The company says the changes won't automatically lead to rate hikes and were needed to help meet future costs.
The three-member Public Service Commission approved the changes without discussion on Tuesday.