Rocky Mountain Power lowers rate hike request

Rocky Mountain Power is reducing the amount it wants to raise electricity rates in the face of criticism from Utah's Capitol Hill and advocacy groups.

In a new filing with the Public Service Commission, the power giant says it will reduce the amount of its proposed rate hike from nearly 30% to about 18% for residential customers.

"...the Company has heard the concerns of its customers regarding the requested increase in this case combined with other cost pressures and continued to review ways of further mitigating the impact of the requested increase on customers," it said.

Among those customers? Some very powerful political leaders on Utah's Capitol Hill. Governor Spencer Cox has criticized the rate hike. House Speaker Mike Schultz, R-Hooper, floated the potential of legislation against the utility in an interview with FOX 13 News last month .

Rocky Mountain Power has said the increase is necessary to cover costs for fuel, inflation, capital improvements and insurance premiums related to rising wildfire risks. The utility's president defended them in a hearing earlier this month before the Utah State Legislature .

Utah electricity rates remain among the lowest in the nation and state political leaders have said they want to keep it that way. The legislature has pushed bills that expand the state's energy portfolio, which they defend as keeping a reliable supply and lower rates. Critics have said those moves prop up dying fossil fuel industries over renewable sources of energy and won't help combat climate change.

The Public Service Commission will hold a hearing on the proposed rate increase in December.

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