Less than six months after being granted a rate increase that raised the residential bills for its eastern Kentucky customers by about 17 percent, American Electric Power’s two West Virginia subsidiaries have submitted a settlement proposal to that state’s Public Service Commission that would raise residential rates there by 7 percent.
Appalachian Power and Wheeling Power initially sought a 17 percent rate increase for residential customers and increases of 12 percent to 15 percent for commercial and industrial customers.
The proposed settlement was made Tuesday. The West Virginia PSC plans to meet Wednesday (today) to discuss it and must decide on the proposal by March 31.
The Kentucky Public Service Commission granted the rate increase to AEP’s Kentucky Power Company on June 27, a move which raised average monthly bills by about $134.