West Virginia utilities offering business discounts

As an added incentive to attract new or expanding businesses to West Virginia, Appalachian Power and Wheeling Power are offering a discount on their electric service.

The new rate applies to new or existing customers who have new demand of 500 kilowatts (kW) or more and create at least 10 jobs or invest at least $2.5 million in their West Virginia expansion, amounting to an approximate 15 percent overall discount.

“We’re looking at every possible tool we can provide to make our state more competitive on a national and international scale,” Chris Beam, Appalachian Power president and COO, said. “We want to encourage companies to come to the state and grow their business here. We’re hoping this incentive rate will help tip the scales in West Virginia’s favor as businesses choose where to locate or expand.”

New or existing companies are expected to work with the utilities to determine how they can take advantage of the incentive rate and how it will affect their overall electricity costs.

“This will give us a competitive edge to encourage existing business expansion and to attract new businesses and jobs to our region,” David Lieving, president and CEO of the Huntington Area Development Council, said. “Economic development is extremely competitive, and even though we are fortunate in West Virginia to have competitive energy costs, this rate incentive will give us a great tool for new growth opportunities.”