A disk drive includes a disk for storing information, a head with a transducer that writes data to and reads data from the disk, and an AC power source. The head is suspended adjacent to the disk and a flying height gap exists at the head/disk interface. The AC power source generates an AC exciter signal across the flying height gap that discharges electrostatic charge at the head/disk interface. The head/disk capacitance can be measured based on the AC exciter signal to sense the flying height. The AC exciter signal can also alter an attraction force between the head and the disk and thus control flying height. The AC exciter signal can also be based on a flying height signal representative of the head/disk capacitance and thus the flying height.