Monday, August 3, 2009

Virginia SCC approves rate increase for Appalachian Power for 7.7%

Appalachian Power got their rate increase, just not the 13% they originally sought. According to news reports, the SCC approval will increase the average utility customer's monthly bill around $7.16 for 1,000 kilowatts of use. The rate increase will go to cover increases in fuel costs for Appalachian Power, who gets 98% of it's power from coal.

This isn't the last application for a rate increase. Appalachian Power has three more in the hopper. Keep in mind that AEP, Appalachian Power's parent company, reported a 2nd Quarter profit even though revenues were down.

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