The Charelston Gazette-Mail Story Archives - Page 2 of 2

Appalachian Power's Tax Savings Plan Questioned at Hearing

Appalachian Power’s plan to use federal tax cut savings to mainly offset program costs is being questioned by an agency that represents West Virginia ratepayers.

The Charleston Gazette-Mail reports Appalachian’s regulatory services and finance managing director, John Scalzo, was questioned Tuesday at a state Public Service Commission hearing on tax cut impacts. The Tax Cuts and Jobs Act passed last year lowers the corporate federal income tax rate from 35 percent to 21 percent.

The company plans to use around $235 million in savings for projects such as an economic development pilot program. It also plans to give consumers $30 million over three years as credit on bills. The state Consumer Advocate Division says savings should go to consumers immediately. Scalzo says the company’s plan will create more stable rates.

Coal Waste Plant in Fight in Struggle to Stay Open

A coal waste plant at risk of shutting down in West Virginia is hoping to stay open through state proceedings.

The Charleston Gazette-Mail reports the Grant Town Power Plant’s owner, American Bituminous Power Partners, has teetered on the verge of bankruptcy, according to company filings.

In May, the state Public Service Commission denied the company’s proposal to increase its electric energy purchase agreement with FirstEnergy company Mon Power from $34.25 per megawatt hour to $40 per megawatt hour, which would have bumped up customer rates, so it could have a better chance at staying open.

But the PSC kept the company’s EEPA rate the same to allow American Bituminous an opportunity to continue operating while renegotiating its business structure.

Environmental activists have appealed, saying the PSC’s order contained “legal errors.”

West Virginia State President's Contract Extended by Five Years

A five-year contract extension has been approved for West Virginia State University’s president.

The Charleston Gazette-Mail reports President Anthony L. Jenkins’ new contract goes into effect July 1 and ends in 2023. The contract was approved Friday by the West Virginia Higher Education Policy Commission. He was first hired on a two-year contract in July 2016.

A university release says additional compensation based on performance is included in the contract and will be paid by the West Virginia State University Foundation. It says Jenkins annual base salary will increase from $235,000 to $255,000.

The commission also approved a five-year contract extension on Friday for Shepherd University President Mary Hendrix. The contract extension raises her annual base salary from $271,000 to around $284,000.