Power Companies Ask for Rate Increase
Customers of American Electric Power in West Virginia would pay more for electricity if the power company’s request for a rate increase is granted.
Appalachian Power and Wheeling Power filed a request Monday with the West Virginia Public Service Commission for a $226 million revenue increase. Both are subsidiaries of AEP, which says in a news release that if approved, West Virginia customers would see a 17 percent increase in electric rates depending on usage and how they’re classified.
The company said in a news release the rate increase is needed for several reasons:
- To recover the cost of restoring power and making repairs after two major storms that hit West Virginia in 2012, the Derecho and Hurricane Sandy.
- Implementation of a right of way maintenance program which to help prevent outages and reduce restoration times when storm damage occurs.
- Rising maintenance costs and the need to improve transmission lines and generating plants.
American Electric Power officials said rates in West Virginia have not increased since 2011 and during that period customers in Virginia and Tennessee have seen increases.
If approved, the company estimates a typical residential customer using 1,000 kilowatt-hours a month would pay $21.77 more each month and customers using 2,000 kilowatt-hours would see an increase of about $44.59 a month.