RICHMOND — Appalachian Power Co. has the go-ahead to raise its Virginia rates 7.7 percent to recover the cost of purchasing fuel for power generation.
The State Corporation Commission said Monday it had reduced the company’s request by more than $97 million. It approved an increase of $129.5 million to recover fuel costs from July through August 2010.
The SCC says a residential customer using 1,000 kilowatt hours a month will pay about $7.16 more. Under the company’s proposal, the bill have been $12.21 a month higher, or 13 percent.
Appalachian spokesman Todd Burns says the company had asked the SCC to approve only $165 million of the full amount it said it could recover in fuel costs.
The utility has three other rate increase requests pending.comments powered by Disqus