AEP’s SWEPCO unit has submitted a request to the Public Utility Commission Texas to allow it to increase the company’s Texas rates by approximately $83 million.
If the request is approved, new rates could go into effect starting January 2013. The rate increase would result in an average bill going up about $12 per month, or approximately 16 percent for a residential Texas customer using 1,000 kilowatt-hours per month.
“We realize customers don’t like to see rates go up but this request is necessary to recover the significant investments we’ve had to make to ensure that we can continue to provide reliable, reasonably priced electric service,” said Venita McCellon-Allen, SWEPCO president and chief operating officer.
Keep in mind that SWEPCO raised rates by $25 milllion back in 2010.