RICHMOND, Va. (AP) — Virginia regulators have denied Appalachian Power’s request for a rate increase after a financial review found the company has been making an appropriate rate of return under state law.
The State Corporation Commission’s Tuesday decision also means customers of the electric utility that serves southwest Virginia are not due refunds.
The review covered calendar years 2017, 2018 and 2019. The company was seeking to increase rates by approximately $10 per month for a typical residential customer using 1,000 kilowatt hours of electricity, according to a news release from the commission.
The commission also denied a request to increase the residential basic service charge, from $7.96 to $14.
A spokeswoman for Appalachian Power said the company was reviewing the SCC’s order.