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Updated: 9:47 a.m. Thursday, March 31, 2011 | Posted: 9:46 a.m. Thursday, March 31, 2011
CHARLESTON, W.Va. —
The Public Service Commission announced its decision late Wednesday night in a news release.
Customers of Appalachian Power and Wheeling Power Company will begin paying the higher rate on Thursday. The PSC didn't say how much more the average customer will pay each month.
The rate hike will generate an additional $51.2 million in revenue.
The utilities had requested a 13.8 percent increase. A settlement last December between regulators and the utilities recommended a 5.6 percent increase.
The PSC also is considering a separate request for an 8.9 percent rate hike. AEP officials said the additional increase is needed to recover costs for buying coal and electricity, and installing environmental compliance equipment.
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