Power Companies Set for 2% Rate Increase

Jun 6, 2015

Credit American Electric Power

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.