Appalachian Power seeks more rate hikes
- July 16, 2009
Appalachian Power has asked the State Corporation Commission for permission to implement two rate increases that would raise residential customers’ bills about $200 a year.
The company is seeking the increases in addition to two rate increases already filed with the SCC that could raise the average consumer bill 13 percent.
One of the request filed this week is an initial filing required by the state to assess cost of providing power in Virginia. The request would increase electric base rates by $169 million.
The second rate increase would cover transmission cost increases associated with federal regulators’ charges. That would increase $24 million.
Residential bills would increase 19 percent under the plan, although the average bill would rise 16 percent. These would come on top of the requests already filed with the SCC.
“The company continues to tighten its belt with serious cost-containing measures resulting in essentially a flat level of discretionary expenditures as we go forward,” Dana Waldo, president and COO of Appalachian Power said in a statement. “Consequently, our filings today reflect the total level of costs Appalachian requires to serve its customers and ensure that the electric infrastructure is ready as we begin to help turn around the area´s economy.”
The company announced it would increase its donations to local energy-assistance programs from $210,000 a year to $1.03 million. (Martinsville Bulletin)