Saturday, May 15, 2010
Appalachian Power Seeks Additional Rate Hike
WEST VIRGINIA....
On Friday, Appalachian Power filed a 17-percent rate hike request with the West Virginia Public Service Commission, the second rate hike the utility has requested in three months. In March, Appalachian requested a separate 7.4-percent increase. If the requests are approved, West Virginia's residential electricity rates will have jumped 70 percent since 2006. Appalachian says the 17-percent rate hike is needed to recoup higher costs of maintaining and improving power plants, substations and transmission lines and to recover about $22.8 million the company spent during the December 18-19 winter storm that knocked out power to 237,000 customers in West Virginia. Appalachian says the increase would generate an additional $155.5 million a year in revenue.
On Friday, Appalachian Power filed a 17-percent rate hike request with the West Virginia Public Service Commission, the second rate hike the utility has requested in three months. In March, Appalachian requested a separate 7.4-percent increase. If the requests are approved, West Virginia's residential electricity rates will have jumped 70 percent since 2006. Appalachian says the 17-percent rate hike is needed to recoup higher costs of maintaining and improving power plants, substations and transmission lines and to recover about $22.8 million the company spent during the December 18-19 winter storm that knocked out power to 237,000 customers in West Virginia. Appalachian says the increase would generate an additional $155.5 million a year in revenue.
# posted by Homer Owens @ 9:42 AM 
