Southwestern Electric Power Co. (SWEPCO), a utility of Columbus, Ohio-based American Electric Power, received approval to increase residential customer bills by 23.28% or $24.32 per month, according to regulatory documents.
On Friday (Jan. 23), the Arkansas Public Service Commission approved the rate increase as proposed in the joint settlement agreement that was filed Nov. 7 in the case.
In November, a SWEPCO participant said the bill of an average residential customer will increase by $24.32 per month, under the settlement agreement. The increase was based on November fuel rates rather than those when SWEPCO filed for the rate increase in March…