Last Friday, Appalachian Power and Wheeling Power filed a 17% rate hike request with the Public Service Commission. If passed, this would increase the average residential bill by about $27. For commercial customers, the average bill would go by about $60, and for industrial customers, average bills would go up $34,000. With this request from Friday, by Monday, Eyewitness News reported there were about 55 letters of protest submitted on the PSC website.
About a year ago, the Public Service Commission approved an $88.8 million rate increase for Appalachian Power for Expanded Net Energy Costs meaning reimbursement for the cost of natural gas and coal. This new one is one of their larger ones the company is allowed to do every three years. According to the company, this proposed hike would increase their revenue by $265.1 million. According to Appalachian Power, the company is requesting this because of inflation and the recovery of $118 million in storm costs since 2019. The company says it would not be able to make necessary improvements without this hike.