Appalachian Power deal would freeze rates for a year, then add 92 cents to typical monthly bills

A proposed compromise in Virginia would curb rate increases for Appalachian Power: it would freeze residential rates for one year and then apply a smaller increase, subject to approval by the State Corporation Commission (SCC). If regulators rule by Jan. 15, 2027, the freeze would run March 1, 2027 through Feb. 29, 2028. From Feb. 28, 2029, customers using 1,000 kilowatt-hours monthly would see an average rise of 92 cents per month. Many parties ended a hearing on Oct. 19. In its May 28 filing, Appalachian Power had requested about $9.10 more per month (roughly $109 annually). The compromise includes an authorized return on equity of 9.8% and would reduce that later impact to about $11.04 over 12 months.