PITTSYLVANIA CO., Va. – 10 has been tracking recent electricity rate hikes across the region. Yesterday, the focus was on a bill in the General Assembly aimed at lowering costs for AEP customers. But the impact goes beyond AEP. Residents in municipalities like Bedford are also facing unexpected increases in their electric bills. In some cases, the actual cost per kilowatt used is lower than the total bill, leaving people worried and confused.
Tim Brooke, a Bedford resident, shared his concerns. “The increase was more than I expected it to be. And like I said, I’ve heard some of our neighbors are struggling.”
Dozens of Bedford residents, including small business owners, say their electric bills have spiked even though they used less energy. The surprise price hikes are hitting households and businesses hard.
Back in September, Brooke supported a 15% increase due to inflation, but the actual 25% hike is harder to manage. “One of the things that I’ve noticed, a line item on the electric bill called recovery. I’m not sure what it means, what it does. But that’s when we noticed the price starting increasing,” he said.
10 News visited Bedford’s Electric Operations center to speak with Director John Wagner about the “recovery” charge.
Wagner explained, “It led to a lot of confusion because people weren’t used to seeing that on their bill, the name ‘power cost recovery,’ but it’s always been there just in a different form.”
He showed a chart illustrating how the number of megawatts used each hour can fluctuate, affecting costs. “I just want to take a moment to try and explain that we participate in EPJ grid. From time to time we have to buy power from them. Here’s a chart that shows how the cost changes over time.”
Wagner noted that increased consumption and price volatility contribute to the fluctuations in bills, factors beyond their control. “Price volatility is an issue and we’re working to do everything we can to control that in the future.”
For now, Bedford families and businesses are watching their bills closely and hoping for some relief soon.