Appalachian Power is continuing to take steps to address excessive fuel costs.
The company is working with the Public Service Commission of West Virginia to come to an agreement.
“We are confident this settlement will achieve the most stable outcome and least rate impact possible for our West Virginia customers,” said Aaron Walker, Appalachian Power president and COO. “We encourage the PSC to approve the settlement, which will keep customer bills affordable and support a reliable energy system.”
The company has also partnered with Wheeling Power.
The power companies are looking to recoup the costs incurred when coal and natural gas prices spiked in 2021 and 2022, exceeding the budgets the companies had planned for.
According to Appalachian Power, spiking fuel prices cost companies over 500 million dollars, and the goal is to recoup that money with little impact on West Virginia customers.
