SWEPCO looks to increase rates

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SHREVEPORT, La. (KNWA/KFTA) — Southwestern Electric Power Company submitted a request July 23 to the Arkansas Public Service Commission to increase rates.

If approved, new rates would likely go into effect in the first billing cycle of June 2022.

The release says an Arkansas residential customer using 1,000 kilowatt-hours per month would see a bill of $130.20, an overall bill increase of $18.89 per month, or about 17%.

According to a news release from the company, the increase in rates would be made to recover environmental and resiliency costs.

“We have made significant investments in wind-powered generation, specifically with the North Central Energy Facilities project,” said Malcolm Smoak, SWEPCO president and chief operating officer. “It’s a project that has environmental and economic benefits for SWEPCO’s customers, saving an estimated $2 billion over the next 30 years.”

Base rates refer to the costs of building, maintaining and operating SWEPCO’s electric system, including power plants, transmission and distribution lines and facilities to serve customers, according to the release.

The release says base rates do not include the fuel portion of the customer’s bill, which pays for fuel and purchased power and is a direct pass-through to customers.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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