Alabama Power to issue $62M in refunds to customers

MONTGOMERY, Ala. (WSFA) – Alabama Energy is making ready to subject a multi-million greenback refund to hundreds of its prospects following an order by the Alabama Public Service Fee.

The APSC, a physique that regulates Alabama’s public utilities, stated throughout its assembly Tuesday {that a} common examination of Alabama Energy’s books and information confirmed that it had exceeded the licensed vary allowed for its price of return.

“Alabama Energy can affirm that roughly $62 million can be refunded to eligible prospects,” an organization spokesperson stated Wednesday.

The refunds won’t be made instantly, nonetheless. They’ll be included in prospects’ August 2023 payments.

It’s additionally nonetheless unclear precisely how a lot cash prospects will see returned to their pockets with the spokesperson saying Alabama Energy is “at present finding out the Fee’s order to finest estimate the refund for a typical residential buyer and can comply with up as soon as we all know extra.”

The refund comes after Alabama Energy made three price hikes in 2022. The final hike, which amounted to about $6.81 for the standard residential buyer utilizing 1,000 kilowatt hours monthly, was introduced in December and was stated to be as a consequence of compliance with federal necessities, inflation, and financial circumstances.

The December enhance occurred only a month after an enhance of about $10 monthly that APCO blamed on elevated gas prices wanted to generate electrical energy.

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