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CHARLESTON â Residential customers of Appalachian Power and Wheeling Power companies will see an increase of just over 6% after the rate increase was approved Wednesday by the Public Service Commission of West Virginia. The PSC conditionally approved a modified rate base cost tracker and surcharge for the two power companies and imposed a three-year moratorium on filing for a base rate increase. The purpose of the tracker and surcharge is to allow the companies limited cost recovery related to capital investments made between rate cases, according to the PSC. The companies originally requested $48.2 million to cover rate base increases since their last base rate case. The commission reduced that amount to $44.2 million, which will result in a 6.12% increase in the average residential customerâs monthly bill. ....
WV PSC grants electricity bill increase for Appalachian Power, Wheeling Power companies herald-dispatch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from herald-dispatch.com Daily Mail and Mail on Sunday newspapers.
Feb 2, 2021 CHARLESTON The Public Service Commission of West Virginia has authorized Appalachian Power Company and Wheeling Power Company to use approximately $13 million of the remaining Fresh Start Funds to provide assistance with paying electric bills for residential customers suffering from severe financial problems due to the COVID-19. In 2018, the Commission ordered utilities operating in the state to investigate the financial impacts resulting from the 2017 Federal Tax Cuts and Jobs Act. APCo/WPCo earmarked $15 million of those savings to establish the Fresh Start Fund to provide financial assistance for the electric bills of low-income West Virginia residential customers. “The financial impacts of the pandemic on APCo and WPCo customers are ongoing and unprecedented,” said PSC Chairman Charlotte Lane. “Although the Fresh Start Fund was initially created to assist low-income customers, none of us could have predicted where we find ourselves today. M ....