BLUEFIELD, W.Va. – Appalachian Power and Wheeling Power have filed another proposal for rate increases with the Public Service Commission of West Virginia.
If approved, the company says they expect to see an annual increase of revenue at approximately $250,493,835, meaning a 14.12% in increases for the average customer.
AEP says the increase is needed to continue to uphold its infrastructure while continuing to make a profit.
“Investing in and maintaining our generation, transmission and distribution network is essential for minimizing and shortening outages, accommodating growing energy demands and integrating new energy sources,” said AEP.
The company reports $2.97 billion in earnings last year and expects that to grow by 8% to 9% this year.
If the rate hikes are approved, the average residential customer would pay an extra $23.74 a month.
Appalachian Power and Wheeling Power saw their request for a rate hike of more than 15% denied last fall.
Anyone desiring to intervene or file a written protest can contact the West Virginia Public Service Commission at P.O. Box 812, Charleston, W.Va. 25323 or visit psc.state.wv.us for more information.
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