AMERICAN ELECTRIC POWER SEEKING 17% RATE HIKE

(07/01/2014)

American Electric Power is asking the W.Va. Public Service Commission to approve a 17 percent rate increase. AEP says it needs the rate hike to recover costs from restoring service from the June, 29, 2012 Derecho and Superstorm Sandy last October. The proposed rate hike also includes costs for cutting back trees and bushes along right-of-ways. If approved, an AEP residential customer in W.Va. who uses 1,000 kilowatt-hours a month would see their monthly bill go from $94 to $116. The proposed rate hike would raise $226 million. AEP says it has not raised rates in W.Va. since 2011.

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