.alabamapower reveals approximately how much the credit will be on August bills. The Alabama Public Service Commission approved the refund plan after the company reported it was above the allowed rate of return range by $62 million in 2022.
It’s part of $62 million approved by the Alabama Public Service Commission after Alabama Power reported it was that much above the allowed rate of return range in 2022.
Saturday night, Alabama Power revealed that the return per average residential customer will be about $23. The Public Service Commission determined the returns will be in the form of a credit on bills in August. The return factors will be based on actual customer usage billed for the months of July, August and September 2022.
The PSC voted to implement the refunds in August since customers usually consume more power during the summer months and the extra money will have more impact. The $23 credit, for at least the month of August, will largely cancel out increases in power rates announced in December that amount to about $22.81 per month. Alabama Power attributed the increase in rates to federal mandates, inflation and economic conditions.
Alabama Power has programs in place to assist customers who may struggle to pay their electric bills, including
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