CHARLESTON, WV (LOOTPRESS) – State regulators on Tuesday approved a compromise settlement proposal to immediately grant $55.4 million in fuel charges to Monongahela Power Co. and The Potomac Edison Co.
The Public Service Commission of West Virginia also said in the order dealing with the Expanded Net Energy Cost (ENEC) rates of the companies that they would get an additional $92.1 million increase effective January 1, 2025, to pay for fuel costs deferred as of now.
The companies on Aug. 31, 2023, filed for ENEC rate increases of $167.5 million. The companies at the time claimed an underrecovery balance of fuel costs totaling $267 million, but said they were willing to defer some of that to a later date.
The compromise was reached by a number of parties, including the companies, Commission staff, the Consumer Advocate Division, outside companies and consumer advocate groups. It was the language the group worked out that the Commission endorsed in this order.
More information on this case can be found on the PSC website: www.psc.state.wv.us. Click on “Case Information” and access Case No. 23-0735-E-ENEC.
