Alabama Power's electricity rates are 15 to 17 percent lower than the national average, according to state regulators.
Funding will come from an estimated one half of 1% increase in electricity rates.
One desired effect of the competition is lower electricity rates.
In return it is to raise its electricity rates to customers 5 percent a year for 10 years.
Even without a crisis, Californians' electricity rates are about 40 percent above the national average.
After the takeover, the power authority immediately cut electricity rates by an average of 20 percent.
Generally these are paid for by increasing electricity rates to customers.
New York has some of the highest electricity rates in the country, about 50 percent above the national average.
It was not clear last night whether the deal would lead to lower electricity rates.
The protest was held in response to a government decision to raise electricity rates by 10%.
