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Despite profit, AEP seeks rate hike in West Virginia

By CASEY JUNKINS

The Intelligencer and Wheeling News-Register

WHEELING, W.Va.  — American Electric Power earned $454 million during the first three months of this year, but the firm now wants to raise bills for West Virginia residential customers by nearly $15 per month.

The Mountain State operating subsidiaries of Columbus, Ohio-based AEP — Appalachian Power and Wheeling Power — jointly filed the rate increase request with the Public Service Commission of West Virginia this week. In the $114.6 million revenue request, AEP cites “significant decline in the amount of electricity used by customers” as a major reason for the rate hike. The company also said it serves 11,000 fewer customers than it did in 2013.

The rate increase mainly affects residential and commercial users, as their bills will jump by about 11 percent per month. Conversely, industrial users would see an increase of only about 1 percent.

Read the entire article: http://www.theintelligencer.net/news/top-headlines/2018/05/despite-profit-aep-seeks-rate-hike/

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