Appalachian Power files rate increase request

CHARLESTON, WV (WOWK) — Appalachian Power recently filed a rate increase request through the West Virginia Public Service Commission (PSC) that could have major impacts on homeowners bills if approved.

According to a press release sent out by the power company, its is looking for an annual revenue increase of $265 million.

This would include an average of $28.72 added on to the average home owners bill, $60.41 for commercial property owners and $34,321 for industrial property owners.

Some of the reasons that Appalachian Power gave for needing a rate increase are increased labor costs, higher interests rates and inflation.

Appalachian Power noted that they were looking to cover $118 million accrued in storm damage recovery costs since 2019. They’re also wanting to recover over $1 billion spent in investments made in generating plants, the regional transmission system and distribution facilities.

13 News spoke with one St. Albans homeowner who is upset about the potential increase to his monthly power bill.

“The audacity for them to ask for another cent from anybody. You’re either going to sit in the dark or you going to go buy stuff, now what’s it going to be? I don’t know about you, but I’m not going to melt, I’m not going to freeze to death in there and I’m not going to be in the dark. This isn’t Little House On the Prairie,” St. Albans resident Bryan Smith said.

If the PSC approves the rate increase, the power company said that the extra money would go to upgrading and maintaining their generation, transmission and distribution network. These are upgrades it said are essential for minimizing outages, accommodating growing energy demands and integrating new energy sources.

This would also be Appalachian Power’s first full base rate increase since 2018, though there have been increases in surcharges since then to cover things like vegetation management and environmental costs.

“People are already operating on a tight budget, this is going to be really hard for them to come up with another $30 to $35 dollars a month just because Appalachian Power thinks it needs a rate increase. A.E.P., it’s parent company, had $25 billion in profit over the last 24 months. I don’t think they need the rate increase,” Kanawha County Commissioner Ben Salango said.

The PSC has 300 days to approve or reject the requested rate increase.

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