APCo CEO Patton Says $98 Million in Rate Increases Coming

Yesterday’s Charleston Gazette included a story by Megan Workman about new rate increases that will hit APCo rate payers in the next year or so.  APCo CEO Charles Patton stated that the company will soon be applying to the WV PSC to recover from rate payers $71 million for repairs from the summer 2013 derecho storm and $27 million from Hurricane Sandy.

Last year, the WV PSC refused to consider using new technologies to protect WV rate payers from future distribution system collapses.  The result is continuing rate increases for the foreseeable future.

As both of WV’s Ohio-based power holding companies try to unload obsolete coal-fired power plants and their obsolete infrastructure becomes more and more brittle, costs of electricity will continue to rise at record rates.  This is the new world of WV electricity.

2 thoughts on “APCo CEO Patton Says $98 Million in Rate Increases Coming

  1. I am required by my creditors to maintain different kinds of insurance to indemnify them against losses from unanticipated circumstances, such as unemployment, illness, death, and catastrophic events. Perhaps the utilities should consider such indemnities to cover their losses from storms such as the De Rechio and Hurricanes such as Sandy. It is not right for WV rate payers to be the indemnifiers of these events, since the utility is allowed to pass on its losses directly to rate payers without having to justify such expenses. Danny Lutz p.lutz007@gmail.com

    On Wed, Apr 3, 2013 at 6:10 PM, The Power Line

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