The Alabama Public Service Commission during its Oct. 6 meeting unanimously approved two small business incentives aimed at strengthening and growing the Alabama economy by encouraging investments and creating jobs.
The two incentives officially approved by the PSC are the Community Redevelopment Incentive (CRI) and the Economic Development Incentive (EDI). Both will benefit new and expanding Alabama Power customers.
Alabama Power following the October meeting also established the Small Business Solutions program, which will include the CRI, along with other offerings for small businesses around the state.
Under this program – which begins November 2015 – small commercial customers in good standing with the company may be eligible for a one-time refund of the deposit they paid when establishing their business account. That could mean up to 13,000 small businesses may qualify to receive money back.
Average rebates are predicted to be about $500, but some could top $1,000.
Additionally, small businesses may qualify for a free energy audit. Representatives of the company are available to visit businesses and help them identify ways to use energy more efficiently.
The CRI provides a one-year incentive for customers that establish a new account for an existing building that has been unoccupied for at least six months.
The EDI provides a two-year incentive for new or expanding customers meeting criteria related to additional incremental load. New or existing larger businesses that add one megawatt of energy may be eligible for a discount on their base rate of 10 percent for the first year and 5 percent for the second year.
The two incentives will ultimately increase the number of Alabama Power customers, and as a result, will put downward pressure on the rates of all customers.
“Small Business is a cornerstone to the American dream,” said Commissioner Jeremy H. Oden. “One of my top priorities has always been to protect and promote small business and help provide every man or woman with the opportunity to achieve that dream.”
To learn more about the incentives, call Alabama Power at 1-888-430-5787.
October 6, 2015