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AEP Subsidiaries Asking WV Regulators For Bond Sales
By: Associated Press
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Two American Electric Power subsidiaries are asking West Virginia regulators to let them sell bonds to recover fuel costs.
Without a bond sale, Appalachian Power and Wheeling Power say they would have to raise rates about 30 percent. If that occurs, they propose a two-year phase-in of the rate hike.
A law passed by the Legislature during this year's regular session allows utilities to sell bonds to recover fuel costs.
PSC consumer advocate Byron Harris says that there are several factors to be considered, including the size of the bond sale.
The utilities submitted their request to the PSC last week.