By PHILLIP RAWLS
Associated Press
MONTGOMERY, Ala. – The state’s utility regulatory board is revising the rate structure for Alabama Gas Corp., which should result in savings for customers.
The three-member Public Service Commission voted unanimously for several changes Tuesday. The changes, which go into effect Jan. 1, should save the average customer about $33 annually, PSC President Twinkle Andress Cavanaugh predicted.
The PSC has had the state’s largest natural gas utility on a rate stabilization plan providing a return on equity of 13.15 percent to 13.65 percent. The commission set a lower range of 10.5 percent to 10.95 percent. It also raised the company’s allowed equity from 55 percent to 56.5 percent.