Charleston, WV (WOAY) – The Public Service Commission of West Virginia (PSC) has made a decision regarding a rate increase proposal from Appalachian and Wheeling Power.
The PSC has rejected the full $250.5 million rate increase proposal.
However, the Commission did grant $76.1 million and assures customers that they will not need to worry about rate increases on their electric bills.
The companies requested a 14.6 percent rate increase on November 1, 2024.
In the order released on Thursday, the Commission said it “requires that the current rates remain unchanged pending future refinancing of a significant portion of the company’s investment in generation plants and deferred expenses.”
The Commission said it would approve a securitization plan “very soon.”
The plan will serve as a bonding system to help spread the cost of expenses.
The PSC further states that “The companies will continue to bill customers at the current rates, so there is no increase on customer bills resulting from this decision.”
For more information on this case, visit the PSC website at www.psc.state.wv.us.
Click on”“Case Informatio”” and access Case No. 25-0854-E-42T.
