LITTLE ROCK (TB&P) — Southwestern Electric Power Company (SWEPCO) on Thursday (Feb. 28) submitted a request to the Arkansas Public Service Commission for a net annual increase of $45.6 million in the company’s non-fuel base rates, plus $12 million for increased vegetation management.
The combined $57.6 million request would result in an overall bill increase of approximately $22.60 per month, or 24%, for an Arkansas residential customer using 1,000 kilowatt-hours per month.
If approved, new rates could go into effect in the first billing cycle of January 2020.
“We recognize that this increase will impact individuals, families and businesses. At the same time, we have made significant investments in generation, transmission and distribution facilities since our last Arkansas general rate case in 2009,” Malcolm Smoak, SWEPCO president and chief operating officer, said in a statement.
“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.”
Visit Talk Business & Politics to read more.