CHARLESTON – The Public Service Commission of West Virginia issued an order reducing the Expanded Net Energy Cost rates for Appalachian Power Company (APCo) and Wheeling Power Company (WPCo) customers by more than $50 million, effective September 1, 2013.
A typical residential customer using 1,000 kWh of electricity per month will experience a decrease on their monthly bill of approximately $3.00.
The costs to obtain fuel to generate electricity and purchased power are the largest expenses for an electric utility and make up the largest component of customer rates. In an ENEC case, customer rates are adjusted to reflect only projected changes in the utility’s cost of fuel and purchased power, specified environmental compliance and construction costs, and to true-up recovery of actual ENEC costs for the previous period. The ENEC process does not involve the recovery of profit or rate of return on investment.
APCO and WPCo serve approximately 478,500 customers in Boone, Cabell, Clay, Fayette, Greenbrier, Jackson, Kanawha, Lincoln, Logan, Marshall, Mason, McDowell, Mercer, Mingo, Monroe, Nicholas, Ohio, Putnam, Raleigh, Roane, Summers, Wayne, and Wyoming Counties. More information may be obtained by accessing the Commission website, www.psc.state.wv.us, and referencing Case Number 13-0467-E-GI
“The PSC Staff, Consumer Advocate Division and others in this case have worked hard to reach an agreement that puts the interests of customers first and foremost,” said Appalachian Power President and COO Charles Patton. “That cooperation has allowed us to reach a solution that will benefit all customers.”
Appalachian’s proposed rate of 9.4 cents per kilowatt-hour in West Virginia is below the national average residential price for electricity of 11.9 cents per kilowatt-hour (kwh).
Tips for saving energy can be found on Appalachian’s website, www.AppalachianPower.com.