The West Virginia Public Service Commission (PSC) has suspended Appalachian Power’s latest application for a rate increase.
Appalachian Power filed a new application for a base rate increase on Nov. 1 after the commission dismissed its previous one.
Now the PSC has suspended the new application until August 2025. That’s to give the company more time to notify its electricity customers in West Virginia and allow for other parties to intervene.
Appalachian Power is seeking a 4 percent increase, down from the roughly 17 percent increase it previously sought.
The company proposes to spread these costs over time through securitization — a process of buying bonds to be paid off over several years. The company proposes a term of 20 years.
The plan would mean a $6.72 increase a month for a customer who uses 1,000 kilowatts. The company would also implement a program to stabilize rates.
Appalachian Power and Wheeling Power have 460,000 customers in 25 West Virginia counties.
Many residents, local officials and school leaders filed comments in opposition to the company’s last rate filing.