Power Company Wants 43% Rate Hike

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CHARLESTON, W.Va. (WSAZ) -- Appalachian Power customers in West Virginia could see a significant hike in their electric bills later this year.

The company is asking the West Virginia Public Service Commission for approval to raise rates by 43-percent.

An AEP spokesperson says the hike is necessary to recover some $442 million in fuel, purchased power and environmental compliance costs.

Appalachian Power wants the rate hike distributed over three years. 18.5 percent in year one and two, and 13.5-percent in year three.

The first hike would take effect July 1.

For customers that use 1,000 kilowatt-hours a month their bill would go from $72.28 to $83.65.

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