MONTGOMERY, Ala. (AP) -- The state's utility regulatory board has approved a new rate plan for Alabama Gas Co. that is forecast to save customers money.
The Public Service Commission had been allowing Alabama Gas a return on equity of 13.15 percent to 13.65 percent. The commission voted unanimously Tuesday to set a lower range of 10.5 percent to 10.95 percent.
The change is due to take effect with the new year.
PSC President Twinkle Andress Cavanaugh said the typical customer should save $33 annually.
The rate plan is similar to one the PSC approved earlier for Mobile Gas Co.