Arizona Public Service files new rate case for $460M annual revenue increase
Seeking additional funds to tackle reliability and resilience maintenance, Arizona Public Service Co. (APS) last week requested a net $460 million annual revenue increase through a new rate case, meaning monthly bill increases of about $18 for its average residential customers.
For the new rate case, APS stated that these funds would help strengthen the state’s grid in the face of extreme weather and increased demand. Its rates have stayed relatively flat since 2018, but this new surge would up monthly bills by 13.6 percent as of Dec. 1, 2023.
“We have a responsibility to keep electricity as affordable as possible while continuously expanding the grid to ensure reliability and energy resiliency,” Ted Geisler, APS president, said. “Our rates remain below the national average and have stayed flat since 2018. Our goal is to continue serving customers with top-tier reliability, but we need to recover recent costs so that we can keep up with Arizona’s growth.”
In addition to reliability efforts, the filing would also cover a mix of investments in renewables, upgrades to APS power plants, and customer-focused programs, including the addition of two off-peak holidays, the elimination of payment transaction fees, and tiered discounts for lower-income customers. All of this is based on a filing with the Arizona Corporation Commission (ACC) for approval to recover costs.
Such processes typically last about a year, including hearing dates and public comment sessions, and will conclude with a vote by the ACC commissioners.
