Appalachian Power Official Outlines Rate Proposals
Appalachian Power has invested more than $1 billion since our last rate review five years ago to make your electric service more reliable.
Since 2019, we have had to spend $118 million to repair damage after storms, and that doesn’t account for damage caused by Hurricane Helene.
When we make repairs, we see what we can do to make the grid more capable of standing up to Mother Nature next time. We have also invested in our coal-fueled power plants, so they are ready to serve you when you need them.
While we will continue to find ways to meet current and future energy needs, customers have made it abundantly clear that rising energy costs have put many under financial strain.
We hear you.
At the same time, we need to continue making improvements to keep the lights on and ensure that West Virginia has the energy we need to grow our communities. In our latest proposal submitted to the Public Service Commission of West Virginia (PSC), we have outlined two solutions that reduce the short- and long-term rate impacts for our customers.
We are asking to use securitization legislation passed by the West Virginia Legislature last year to address the short-term impact of our request. Using securitization, a residential customer using 1,000 kilowatt-hours (kWh) of electricity each month would see their rate increase by $6.72. If we relied on traditional recovery methods, the same benefits outlined in the request would result in a $23.74 increase for the same customer.
I encourage you to visit AppalachianPower.com/WVRateReview to learn more about our securitization proposal.
We’ve also proposed a longer-term rate-making method that would eliminate several existing charges on your bill and reduce the number of our annual rate adjustments. This alternative helps customers by providing greater predictability of electricity rates in the future.
I understand that it’s never a good time to request a rate increase, and again, we’re here to help with that as well. If you are struggling with energy costs, I encourage you to contact us for more information on our many available resources.
We offer several payment arrangement options, including our Average Monthly Payment (AMP) Plan, which provides steady monthly bills and eliminates surprises during seasonal spikes.
Our Energy Efficiency team has tons of tips and information to help you control your energy usage, potentially resulting in a lower bill. We can assist with making your home more energy efficient by coordinating a Home Energy Assessment, where a qualified energy advisor will tour your home, install energy savings measures and provide a Home Energy Assessment Report, all at no cost to you.
We will do what it takes to inform you about how we are improving service throughout the Mountain State. As your local energy provider, we understand the vital role we play in our communities. We are proud to be partners in building a better West Virginia, and we thank you for your continued support.
Aaron Walker is the president and chief operating officer of Appalachian Power.