Alabama Power to refund customers $62M on August bill

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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.

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The company Alabama Power is going to refund their customers $62 million on their August bill due to being above on the allowed return rate.

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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.