CHARLESTON (AP) — Appalachian Power says its proposed rate hike to make up for past and ongoing fuel costs is actually designed to avert a sharper rate hike in 2015.
Appalachian Power and Wheeling Power have asked the Public Service Commission to approve a $68 million rate increase.
The Charleston Daily Mail reports that the companies are asking that regulators not use traditional calculation methods this year.
That’s because they say it could lead to a sharp rate increase in 2015.
APCo plans to retire generating capacity from some of its older coal-fired power plants in 2015 in order to comply with environmental regulations.
Less generating capacity means the company will have to go out and purchase more power.
APCO and Wheeling Power serve about 478,500 customers in 23 West Virginia counties.