Saturday, March 3, 2012

Power companies seek rate hike

Two American Electric Power subsidiaries asked state regulators toapprove a $100.5 million rate increase.

Residential customers of Appalachian Power and Wheeling Power whouse 1,000 kilowatt-hours a month would see monthly bills increase by$6.37, from $58.87 to $65.24, if the Public Service Commissionapproves the rate request, the utilities said in a news release.

The utilities asked the PSC Thursday to make the new rateseffective July 1.

The PSC approved a settlement agreement with the utilities in July2006 that allows for periodic adjustment of rates to pay forenvironmental construction projects, fuel …

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