Mon Power customers rates will go up on Jan. 1, 2023 but the company has agreed to take only half as much as it asked for.
Mon Power had asked the West Virginia Public Service Commission in August to approve $184 million in cost recovery from its ratepayers.
In a settlement agreement reached this week, Mon Power will take half the requested increase, about $92 million, and defer the rest to next year.
The impact on average residential users will be $5.50 a month, rather than $11.
The company also agreed to evaluate the option of purchasing the Pleasants Power Station in Pleasants County, but made no commitment.
The state’s consumer advocate had recommended the PSC direct Mon Power to purchase the 1,300-megawatt plant, which is scheduled to shut down next year unless a buyer steps forward.
Consumer and environmental groups pushed back on that recommendation.