Alabama Power to refund customers $62 million
BIRMINGHAM, Ala. (AP) — Alabama Power customers are getting a refund this summer.
The Alabama Public Service Commission on Tuesday approved the refund to be paid to eligible Alabama Power customers in August. The decision came after the company reported it was above the allowed rate of return range by $62 million in 2022.
There’s no word yet on how much customers will receive as part of that refund.
“We are currently evaluating the direction given by the Commission to best estimate the refund for a typical residential customer and will follow up once we know more,” a company spokesperson told WAKA.
In December, Alabama Power announced its third rate increase of 2022, citing federal mandates, inflation and economic conditions. That means the average residential customer, using 1,000 kilowatt hours a month, is paying about $24 for electricity since January 2022.
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