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Appalachian Power’s 2024 Rate Increase Sparking Public Concern

Appalachian Power, a subsidiary of American Electric Power (AEP), has recently proposed a rate increase for 2024, raising concerns among residents in West Virginia and Virginia.

Feeling The Sting Of Appalachian Power’s 15% Rate Hike In West Virginia

If approved, this increase would see the average residential customer’s bill rise by approximately $28.72 per month in West Virginia and $10 per month in Virginia, representing rate hikes of 15.4% and 5.1%, respectively. The proposed increases would affect customers across the board, with residential customers facing the largest hikes, while commercial and industrial accounts could see increases of 14.5% and 13.6%, respectively.
The company justifies the rate increase by citing rising costs, including those associated with maintenance, storm recovery, and infrastructure upgrades. Despite these explanations, the proposal has been met with significant public opposition. Many residents, particularly those in low-income households or on fixed incomes, have expressed concerns about the financial strain these hikes would impose. The constant rate increases have made it increasingly challenging for many to manage their household budgets.

“What really has me upset is, for too long West Virginia consumers have felt the boot of AEP on their necks, squeezing out more and more money from us,”

Wes Holden
Resident
Charleston, West Virginian

Appalachian Power Raises Rates To Generate Profit

This request follows a 2023 rate increase that added an average of $16 per month to customer bills, raising concerns about a pattern of relying on frequent rate hikes rather than improving operational efficiencies. The 2024 rate increase in West Virginia alone is expected to generate an additional $265 million annually for Appalachian Power.

However, the company has not publicly disclosed its profit projections for the coming year. Executive salaries at AEP, which have reached millions of dollars in previous years, remain a contentious issue, further fueling the debate over the necessity and fairness of the proposed hikes.

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This situation highlights critical questions about corporate and ethical responsibility within the energy sector. As the public comment period continues and state regulators review the proposal, the outcome could set a precedent for how utilities balance financial sustainability with customer affordability.

Contact Revolt Energy to learn more about how solar power can work for you and ensure that you continue to reap the rewards of clean, renewable energy.

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