PSC: For Now, No Change In Appalachian Power’s Rates

The West Virginia Public Service Commission left Appalachian Power rates unchanged in a decision Friday.

The PSC denied most of the $250 million the company sought — all but $76 million. 

Instead, the commission said it would approve the securitization – an issuance of bonds – of various company expenses.

Under that proposal, customers would pay down the bonds over a period of 20 years. Customer bills would increase, though by about $7 a month instead of nearly $24.

Appalachian Power is also asking the PSC to include about $72 million in fuel costs in the securitization plan. If it does not include those costs, customers could pay an extra $5 a month.

The commission last approved a base rate increase for Appalachian Power in 2019. It received thousands of comments in opposition to the latest proposal.

The PSC took other steps in its ruling Friday to assist low-income customers and customers with rooftop solar.

It expanded the Dollar Energy Fund, which helps customers avoid shutoffs. It increased the limit on how much a customer can receive to $500 and makes that available year-round.

It also cut reconnection charges in half. A reconnection had cost as much as $75.

The 1:1 solar net metering credits will end, but with a longer window for customers to enroll and receive the full credit. Going forward, solar customers will receive 12.4 cents a kilowatt hour.

That’s in line with a previous PSC decision involving Mon Power and Potomac Edison rooftop solar customers.

The PSC lowered rates for local governments to install energy efficient LED street lights, making them less costly than traditional streetlights.