Appalachian Power reaches agreement on latest rate increase

Appalachian Power has reached an agreement on a proposed rate increase.

If approved, the increase would add an average of $16 to each monthly bill of a residential customer (defined as using 1,000 kilowatts per month).

Prior to the agreement, AEP asked the State Corporation Commission to approve a rate increase that would add $25 to monthly bills.

If approved, the increase would take effect in January.

The deal would increase AEP’s annual revenue by $127.3 million.

You can view the full stipulation below.