SWEPCO makes official 8.9 percent rate increase
Jan. 19, 2018 at 12:02 a.m.
Customers of AEP Southwestern Electric Power Co. next month will see their monthly bills increase by 8.9 percent, or about $8.59 for those using 1,000 kilowatt-hours, the utility said Thursday. Customers also will see a surcharge of about $7.70 per month to allow SWEPCO to recover the increase retroactively to May 20.
The combined effect of the new rates and surcharge is about $16.29 per month, or 16.8 percent, for the 10 months.
The base increase, which was estimated by the News-Journal earlier this week, and retroactive increase were made official Thursday by SWEPCO.
The utility, which serves customers in Longview and most of Northeast Texas, is acting on a rate case it filed in December 2016. SWEPCO had sought an increase amounting to $69 million a year, primarily to cover $34.5 million investment in environmental controls at four coal-fired plants and $24.5 million for additional generation, transmission and distribution investment, and changes in operating costs.
The Public Utility Commission last week granted an increase of $50 million a year.