W.Va. PSC approves Appalachian Power rate increase
Company can’t seek further increases until mid-2024
CHARLESTON, W.Va. (WSAZ) – Appalachian Power customers will pay more on their monthly bills starting in September after the West Virginia Public Service Commission approved an infrastructure improvement plan surcharge for the company.
According to the PSC, average residential customers will see an increase of 6.12% on their monthly bills.
However, Appalachian Power accepted a three-year moratorium from the PSC that prohibits it from seeking any new base rate increases until at least June 30, 2024.
In a statement, Kanawha County Commission President W. Kent Carper said, “While we would have preferred that Appalachian Power’s surcharge be totally denied, we recognize and thank the Public Service Commission for imposing a three-year time out on new rates.”
According to the release from the PSC, Appalachian Power originally requested $48.2 million to cover rate base increases. The Commission reduced that amount to $44.2 million.
“With this Order, the Commission is underscoring the need for utility companies to invest in their infrastructure while we stabilize rates and avoid frequent large base rate increases,” said PSC Chairman Charlotte Lane in a statement.
Copyright 2021 WSAZ. All rights reserved.