The Fairbanks Daily News-Miner says Fairbanks Sewer and Water has agreed to pay $4.5 million in customer refunds for setting rates too high the last decade.
The Regulatory Commission of Alaska determined Fairbanks Sewer and Water had overcharged local customers when on three occasions the company boosted interim rates to levels that weren't ultimately upheld by the commission.
The settlement will provide refunds to at least 8,500 customers who had water and sewer service with Golden Heart Utilities or College Utilities between 2005 and 2009.
The timeline for when customers will receive refunds is unclear. Current customers will receive a billing credit and former customers will be sent a check.
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