Americans Who Overpaid Electric Bills Eligible for $9 Million in Rebates

A $9 million rebate is up for grabs for customers of Rocky Mountain Power after the company overcharged residents.

Rocky Mountain Power is a utility company that serves the Utah, Wyoming and Idaho areas. However, an issue in billing has caused the organization to pay back $9 million in overcharged payments.

If eligible for the rebate, you should see the refunds in a six-month rate reduction beginning January 1. Instead of paying Rocky Mountain Power's 8.3 percent rate increase, charges will only be up by 5.5 percent. That's an overall 2.8 percent reduction in the new year.

"For Rocky Mountain Power, issuing a rebate could impact their short-term financials but it is essential for maintaining customer trust and regulatory compliance," Zack Hellman, the owner of Tax Prep Tech, told Newsweek.

Rocky Mountain Power accepted a settlement, after increasing costs in two stages by 30 percent, with the Wyoming Public Service Commission approving the rebate this week.

Initially, Rocky Mountain Power bumped its rate 21.9 percent for base electricity. Then, it added a temporary increase for deferred net power costs of $50.3 million, or 7.6 percent.

Most of the rebate was first corrected by Wyoming Industrial Energy Consumers, and Rocky Mountain Power accepted it had made an unintentional error in a legal filing.

Even with the rebate under order, officials have worried about the rising costs of energy amid elevated inflation.

"I also have an ongoing concern about affordability," Wyoming Public Service Commission Chair Mary Throne said, as reported by WyoFile. "We continue to enjoy low rates in Wyoming compared to the rest of the country. But I don't want to suggest that there are [not] pressures across the state.

"I hope all of us, collectively, and obviously not just the company in this case, can have a discussion about affordability and things we can do to address the public's concerns about one of their basic living expenses."

More Rebates Being Sent Out

While the rebate specifically affects customers of Rocky Mountain Power in Wyoming, many Americans have been on the lookout for more direct payments after the federal government ended stimulus payments.

For many residents, their states have adopted generous tax rebates to help them as inflation remains high and the economy is uncertain.

Montana residents can get a rebate worth up to $2,500 by the end of the month if they filed their 2021 tax return. Married joint filers are set to receive up to $2,500, while individual filers could earn $1,250, with the specific check for each taxpayer being the maximum amount based on their filing status or the amount on line 20 of the tax form, whichever is less.

"Montanans overpaid their taxes, and we're giving it back," Governor Greg Gianforte previously said in a statement. "I look forward to getting this money back into Montanans' pockets where it belongs."

Last month in Alabama, taxpayers saw $300 deposited if they filed a state income tax return for 2021 on or before October 17, 2022. The state spent $393 million on the refunds, with the checks coming fully from a $2.8 billion surplus in the Education Trust Fund. Each check is intended to help residents offset grocery taxes paid throughout the year.

Arizona is giving $250 per person with dependents, with a limit of $750 for three dependents. For dependents over age 18, the payment is lowered to $100 each.

Virginia also gave out payments to residents last month, as long as they had a tax liability in 2022. A tax liability is money owed to the state after deducting tax credits. Under the rebate program, single filers earned $200, while joint taxpayers scored $400 together.

The federal government sent its last wave of stimulus payments more than two years ago, and there is no indication that another round will become available.