Appalachian Power has asked the West Virginia Public Service Commission for approval to raise electric rates, which would bring in about $250.5 million more in yearly revenue.
The company filed the request on Nov. 1, 2024. If approved, it would mean a 14.12% increase for residential customers — about $23.74 more per month on the average electric bill.
Appalachian Power, a part of American Electric Power (AEP), made $2.97 billion in earnings last year and expects that to grow by 8% to 9% this year.
This request comes after a similar rate increase was denied last fall. Just last week, the company also asked for a rate hike in Virginia to help pay for new renewable energy projects planned for Wise County and Wythe County, in compliance with the Virginia Clean Economy Act.
Some West Virginians say their state shouldn’t have to pay for Virginia’s clean energy goals. Switching to green energy often leads to higher costs at first, since solar panels, wind turbines, and battery systems are expensive to install and maintain. Utilities usually pass these costs on to customers.
Green energy sources like wind and solar also don’t produce power all the time, so utilities must keep backup systems running, which adds even more costs. Though renewable energy may save money over decades, the short-term expense can hit customers hard — especially in states not directly benefiting from the projects.
