CHARLESTON, WV (LOOTPRESS) – The Public Service Commission of West Virginia will review Appalachian Power’s request to adjust base electric rates for its customers next week.
This marks the company’s first such request since 2019.
In a message to customers, Appalachian Power acknowledged the potential burden of a rate increase but emphasized steps the company is taking to minimize the impact.
The utility is proposing the use of “securitization,” a financial tool made possible through legislation passed in 2023 with the support of state lawmakers.
If approved, securitization could significantly reduce the size of a potential bill increase—from a projected $21 to about $6 per month for a typical residential customer using 1,000 kilowatt-hours.
In addition to securitization, Appalachian Power is proposing a new Electricity Rate Stabilization (ERS) mechanism.
This plan would eliminate several current surcharges and cap any future rate increases at 3% annually.
The company stated that continued investments in infrastructure are aimed at improving the reliability and resilience of the electric grid, including faster response to outages.
More information about the proposed rate changes and securitization plan is available at AppalachianPower.com/WVRateReview.
