Customers of Southwestern Electric Power Company in Arkansas are getting a shock as the firm is asking approval for a more than 27% increase in monthly residential charges.
The filing with the Arkansas Public Service Commission indicated it wants to increase residential rates for customers who use 857 kilowatt hours to $30.46 per month. It amounts to an increase of 27.2 percent.
SWEPCO wants to raise the retail revenue requirement from $266 million to $402 million. The company told regulators it needs the additional revenue t o pay for new power generation operations, including two wind farms. It also explained it made system-wide grid improvements.
