RICHMOND, Va. (WRIC) — Appalachian Power, a public utility company serving much of southwestern Virginia, is requesting approval for a rate hike to make up for the increased cost of fossil fuels earlier this year.
According to a filing with the State Corporation Commission (SCC), Appalachian Power incurred over $416 million in fuel expenses, as well as a balance of over $361 million in “deferred fuel expenses,” both of which they hope to gain back by increasing charges to their customers.
Recovery of that money would be spread out over the next two years, and would increase the average customer’s monthly bill by about $20, from $127 to $147.
But before Appalachian Power can hike rates, they have to get the approval of the Virginia State Corporation Commission. The commission will hold a hearing on Tuesday, Dec. 13, and residents can register in advance to speak at this event by completing this form with case PUR-2022-00139.