Some of my neighbors in Calhoun and at StopPATHWV have begun to figure out the complicated and hidden mechanics of how PATH’s costs are being added to our electric bills. Keep in mind that there are actually two mechanisms at work: the cost of building PATH, with its guaranteed 14.3% return on equity, and the “recovery” of the costs of operating the PATH line which are called, in powercompanyspeak, “operations and maintenance” or O&M.
Twice a year, AEP/Allegheny are forced by FERC to hold public meetings concerning what costs they are including in the rate increases that are passed on to us. They have already done this for the last two years. Now they are getting ready for 2011.
StopPATHWV is inviting you to become are part of the October 6, 2010 public meeting to be held at Allegheny Energy’s lawyers’ office in Washington, DC. You can sign up and join in the meeting by phone conference.
Here is the link to the StopPATHWV Web site where you can read all about it. If you pay electric rates to Appalachian Power (AEP) and Allegheny Power (Allegheny Energy, soon to be FirstEnergy) you need to see where your millions of dollars are going.
Are there any regulators, either federal or state, who ever say no to these hidden rate increases? Nope. It’s up to you to join lots of other people in WV, Maryland and East Virginia who have begun to keep a close eye on power company meetings that no one paid attention to in the past.
We are developing our own experts on this process, and you can learn a lot from them.