West Virginia's Public Service Commission has granted Appalachian Power and Wheeling Power a 12.1 percent rate increase.

The new rate takes effect Thursday and covers the first year of what is expected to be four annual increases.

The utilities, both subsidiaries of Ohio-based American Electric Power, originally wanted a 43 percent rate increase.

The PSC says AEP will take in $124.7 million in new revenue as a result of the increase.

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