Appalachian Power files to lessen the financial impacts on Virginia customers
ROANOKE – Appalachian Power Company (APCo) Thursday took a major step towards reducing customer bills. In an application filed with the Virginia State Corporation Commission (SCC), APCo is requesting approval to securitize certain company assets to minimize future financial impacts to customers.
APCo’s securitization petition aims to save customers money compared to recovering costs through traditional rate mechanisms. APCo proposes to recover over $140 million in storm restoration costs incurred from January 1, 2024, to March 31, 2025, as well as the Virginia share of undepreciated plant balances related to APCo-owned Amos and Mountaineer power plants. By recovering these costs over an extended period and at favorable interest rates with securitization, a residential customer using 1,000 kWh could save approximately $11.44 per month compared to traditional rate mechanisms.
“With costs continuing to rise across many industries, we understand the immediate need to find creative solutions that lessen the impacts on our customers while still allowing us to invest in sustainable energy solutions for our communities,” said Aaron Walker, Appalachian Power president and chief operating officer. “Today, we’re building off the relationships created with our Virginia legislative partners to offer solutions that provide immediate financial relief to our customers in Virginia.”
For more information on securitization and its benefits, visit AppalachianPower.com/Securitization.
July 10, 2025 @ 9:10 am
Allow me to translate this to English:
APCo plans to use creative billing to charge more for power so the users can pay less.
July 10, 2025 @ 10:11 am
it’s sad that people on fixed income .
I help a elderly person and between rent and light bill n other bills she has much of nothing left…she buys most of her food….it’s insane.
July 10, 2025 @ 2:48 pm
I like the idea of lowering the costs but, lowering approx.
$11.44 will not help a lot of
people. My bill is $378.00
a month for a 3bedroom ranch. I guess any help is better than none at all.
July 10, 2025 @ 2:49 pm
I believe that is about the share holders that have stock in Aep. This the bottom line folks wake up.
July 10, 2025 @ 8:05 pm
They are crooks! They know they have us, because we can’t get power anywhere else. this is just a ploy to try and make themselves look better when in reality they will ask for rate hikes as much as they can.
July 11, 2025 @ 6:28 pm
not long ago I was paying approximately $90 for 1000 kilowatts. Now it is about $150 per 1000.To raise the rates $60 and then say we will save about $11 is BS