SWEPCO submits Arkansas rate increase request
Shreveport, Louisiana-based Southwestern Electric Power Company (SWEPCO) has submitted a rate increase request with the Arkansas Public Service Commission (APSC).
The request is comprised of a net annual increase of $45.6 million in the company’s non-fuel base rates, plus $12 million for increased vegetation management. The new rates would likely go into effect in the first billing cycle of January 2020.
“We recognize that this increase will impact individuals, families and businesses,” Malcolm Smoak, SWEPCO president and chief operating officer, said. “At the same time, we have made significant investments in generation, transmission and distribution facilities since our last Arkansas general rate case in 2009. We work hard to provide high quality customer service while managing our costs and continuing to invest in the electric system to provide reliable and safe power for Arkansas customers.”
The $57.6 million request, if approved, would result in an overall bill increase of approximately $22.60 per month, or 24 percent, for an Arkansas residential customer using 1,000 kilowatt-hours per month.
SWEPCO received its last base rate review 10 years ago, with company officials noting operations and maintenance expenses and its capital investments in generation, transmission and distribution facilities have increased substantially.
