CHARLESTON, W.Va. –Appalachian Power and Wheeling Power have submitted an application to the Public Service Commission that would lessen the financial strain on West Virginia customers pending the companies $250.5 million base case revenue increase.
The companies have put in an application with the PSC to securitize certain assets in order to lessen that strain on customers.
Appalachian Spokesperson Karen Wissing says that this application shows that the company is committed to helping customers in West Virginia.
“Our proposal to securitize certain assets speaks directly to helping our West Virginia customers and with securitization, should it be accepted by the West Virginia Public Service Commission, that proposal would therefore decrease the overall monthly bill of our customers,” Wissing said.
When the company put in the request for the $250.5 million base case revenue increase, the increase for WV customers could be
13.54% or a $23.74 increase. However, if the PSC approves the securitization of their assets, the increase for customers could be 3.8% or a $6.72 increase.
Wissing said that the company is basing this off of 1,000 kilo-watt usage, however customers would have to figure out what their increase would be based on how many kilowatts they use.
“The average use for our West Virginia customers is 1,199 kilo-watt hours per month so of course that $6.72 that is at a 1,000 kilowatt so a customer is able to determine what that monthly overall increase could look like for them, if they take a look at their bill and see what their kind of usage is,” she said.
She says that the company is hopeful that the PSC approves the application and that they are ready to answer questions that they may have, as the PSC reviews the application.
“With them being a regulatory body, we will answer questions as necessary and they will ultimately review our application and examine the cost for the system that delivers power to our customers and they’ll make the decision,” Wissing said.
However, if the PSC doesn’t approve the securitization of those assets, Wissing encourages those customers struggling with high bills to reach out to the company.
“We are available 24/7 to answer questions or share information about the many assistance programs we have for West Virginia customers,” she said.
Right now, Wissing said there is no timeframe for when the PSC will make their decision on both the increase and the securitization.
To learn more, go to Appalachian Power’s website here.