Appalachian Power, Wheeling Power request modified rate base costs of $12.3M
In their latest petition to the Public Service Commission of West Virginia (PSC), Appalachian Power and Wheeling Power this week requested a $12.3 million hike to current rates for the Modified Rate Base Cost (MRCB) tracker and surcharge mechanism.
The tracker is a means of limited recovery of costs from infrastructure investments made in the interim period of various base rate cases. Just approved last year, its purpose is to offer cost recovery of incremental investments that current rates fail to recover and lower the scope and frequency of those base rate case filings.
The update as proposed would raise rates by 0.77 percent. This would increase an average residential customer’s monthly bills by about $1.31.
According to rules put in place by the PSC, the companies are forbidden from raising rates more than 3 percent annually under the tracker scheme.
