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, al.com reported.
There’s no word yet on how much customers will receive as part of that refund.
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.