Your electric rates will be rising soon UPDATED
Daniel Lobo | Wikimedia Commons
The good news is, your electric rates aren’t going up this December.
The bad news is, they’re going to go up in February, by 7.4 percent.
Thanks, Apco!
The best news of all, for Apco, is that their legislative nemesis, Del. Ward Armstrong, D-Henry County, will be out of office by then.
Read the story from my colleague Jeff Sturgeon here.
Update: Regular reader/poster Art Hill has the comment of the day, below:
“C’mon, people. Those full-page anti-Armstrong ads ain’t cheap.”
November 30, 2011 - 5:37 PM
Frank mixed me up with all of his talk...
The tax hike is due –100%– to the damned EPA regulations under the so-called Clean Air Act. These bastards are costing “poor families”: an additional $7 a month they don’t have. So once again, it’s the LIBERALS who are sticking it to the poor. Notice neither Dan nor Jeff Sturgeon mentions the EPA. Dan tries to blame–you guessed it– APCO.
Once again the little guy gets screwed so that APCO can pay the big bucks bonuses to its execs.and increase dividends and the value of its stock shares for shareholders. Its past time for public utilities to become just that–public instead of profit centeres for a bunch of gazllionaires.
That’s what you get when the Republicans hold all the cards. Instead of the “Old Dominion” Virginia should be known as “We won’t tax you, we let the companies rape you” state.
I am so sick of Apco, every incumbent on my state ballot will be voted out if I get my way. For god’s sake Ward, Move to the ninth, housing is dirt cheap and we need some representation.
Conservatives did this. Thanks alot you scumbags.
First off, it’s AEP. not APCO. APCO would suggest that prices solely in this region are being raised, when its within ALL of AEP (American Electric Power) that prices are being raised. While this particular 7.4% is for our region, let’s not assume we’re different than other regions served by AEP. Instead let’s remember we’re talking about a major corporation, not just some po-dunk power collective serving southwestern VA with coal fired plants. AEP also has Nuclear plants under it’s control (see third point below). AEP serves a sizable swath from Michigan to Texas, of which NOBODY is immune to their profit-regulating rate hikes.
Secondly, its obvious that for the rest of time, until a revolution occurs, AEP will continue to ALWAYS seek rate hikes and consumers will always plead with the SCC for rate relief. This back and forth will go on forever, or at least until power supply becomes a regulatory utility non-profit (as it should be.)
Thirdly, this rate hike proposal has nothing to do with EPA Regulations. EPA Regulations are a political excuse to justify the continuance of profit-taking and dividend payouts on the stock price at the expense of the consumers. We are very sensitive to the EPA issues because we are in the backyard of coal country. AEP knows this, and will continue to exploit this area’s heart-strings and disguise their profit taking as “supporting the American Working Class” by supporting dying coal communities. It’s a PR Masterpiece.
While the SCC has been successful in the past at rebuffing rate hikes or at least carving the bulk of it out, AEP knows exactly what is going to get after the SCC gets their hearing, which is why they propose certain percentages, in assumption they will get a smaller amount. No business would assume to gain 100% of a negotiation in rates like this. AEP’s not stupid.
So, if you’re tired of the rate hikes, stop supporting privatization of utilities. Electricity and Power is a privilege on this earth, but in America, it’s expected in 99.99% of the country. If we want to continue to expect to have electricity available, it should not be a for-profit industry. As a profitable corporation, it will time and time again raise rates, while doing the least legally possible to comply with any sort of regulations that serve and protect the public. There is no financial incentive to make the world a better place, when our destructive, technologically sophomoric past is so much cheaper.
WOW, who knew? Mama needs a new pair of shoes, roll ‘em baby!
C’mon, people. Those full-page anti-Armstrong ads ain’t cheap.
I saw this piece on the 11 o’clock news last night. Todd Burns said in an interview that the company doesn’t like to have to raise rates. REALLY??? Well then, why don’t a few of the top managers take a pay cut to make up for the lost profits instead of passing it down to us in the second consecutive rate increase within the last month?
Suzie, did you know that it was the Nixon administration that passed the Clean Air Act in 1970? Just a little history lesson.
Don’t confuse Suz or Michelle Bachmann with the facts.
It interferes with their rantings.
Excellent point A Beasley, the GOP used to have a conscience, be for conservation and appreciate the balance between greed and need. Too bad that all died out and extremists like we see here took over.
Tell me what other industry or supplier in the nation gets this deal?
“Allowing Appalachian to recover $56.8 million in additional expenses for compliance with state and federal environmental regulations.”
http://www.martinsvillebulletin.com/article.cfm?ID=31151
That is one of the reasons for the “rate hike” because unlike every other business in this nation, none of whom have the quality of life issue that having electricity brings to every home and business, AEP gets to have the expense of meeting industry regulations reimbursed to them. So the next time they or anyone else complains about EPA regulations, how about shut up and sit down because WE pay for that, they don’t.
Every other business either eats the cost and takes less profit, gives no raises, hires no new workers or cuts expenses because competition controls the price to customers but AEP has a gold mine that covers the expense of producing their product in a manner that does not kill people. What a plan!
I’m going to increase my darkness, quietness and coolness by 7.5%.
I am rather shocked that Gov. McDonnell and Attorney General Cuccinelli have allowed the imposition of state regulations that cost AEP money (which gets passed along to Virginia electric consumers). Simply shocked.
No language in the Virginia constitution grants our state lawmakers the power to do this. Therefore, it is unconstitutional, and unVirginian.
I’m dearly hoping that some brave city or county attorney will take up this issue, and sue the Commonwealth of Virginia, on behalf of its residents who are having to pay more monthly because of this egregious and illegal action.
Paul Mahoney, where are you when we need you?
It seems that AEP does an unusually-large amount of tree-cutting shortly before they ask for rate increases. Has anybody else noticed this? I’m not saying they definitely do it, because it could just be anecdotal coincidences, but I’ve noticed it more than once. Maybe a journalist could check it out…
John, and everybody, stay tuned for Friday’s 8 a.m. thread.