WEST VIRGINIA — The Public Service Commission of West Virginia has denied most of a $250.5 million rate increase requested by Appalachian Power Co. and Wheeling Power Co., approving only $76.1 million. Customers, however, will not see higher bills.
In its order, released late Thursday, the Commission said it “requires that the current rates remain unchanged pending future refinancing of a significant portion of the companies investment in generation plants and deferred expenses.”
The Commission added it would be approving “very soon” a securitization plan, a bonding system designed to spread the cost of those expenses.
“The companies will continue to bill customers at the current rates so there is no increase on customer bills resulting from this decision,” the order stated.
The utilities originally filed their request for a 14.6 percent rate increase on Nov. 1.
More information on the case can be found on the PSC website at www.psc.state.wv.us by clicking “Case Information” and accessing Case No. 25-0854-E-42T.
