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Appalachian Power and Wheeling Power are set to raise rates 2% to cover rising fuel expenses.
The two American Electric Power subsidiaries announced the settlement with the state Public Service Commission on Friday. The increase will take effect July 1 if formally approved by the PSC. A residential customer using 1,000 kilowatt hours of electricity a moth would see an increase of $2.05.
The utilities say the increase is “a dollar-for-dollar pass through expense” that does not boost their profits.
They had originally asked for a 4 percent increase, but the PSC’s Consumer Advocate Division said that was too much.
