Virginia’s Appalachian Power customers will see a slight decrease in their bills next month. Here is a press release from AEP:
Appalachian power customers in Virginia will see a slight drop in their electric rate starting August 1 when two rate changes take effect. The company will implement a $61.5 million annual increase in base rates and a $101 million annual decrease in the fuel factor. The result is a net decrease of just under 2 percent.
For a residential customer using about 1,000 kilowatt-hours a month, the rate will drop from $105. 18 to $103.48. Both rates include sales and consumption taxes totally $1.61. Read more »