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In a positive move for our Mountain State customers, the PSC of West Virginia has allowed APCo to recover approximately $2.4 billion in investments and expenses through consumer rate relief bonds. This method will ultimately save our customers money compared to traditional recovery methods. The order also includes provisions for consolidating under-recovered balances from various cases, including expanded net energy costs, deferred storm costs from significant events like Hurricane Helene, the company's share of undepreciated plant balances from the Amos, Mountaineer and Mitchell power plants and costs associated with compliance with U.S. Environmental Protection Agency regulations.
Securitization is a financing tool that enables us to recover certain costs through lower-interest bonds rather than traditional recovery methods. Energy costs can change quickly, but your electric bill doesn't jump up and down with every shift in the market. That's because we can't immediately change customer rates when our cost to provide service rises. Instead, we carefully track these costs over time.
Securitization is a tool that allows us to manage these unrecovered costs in a way that protects you from a significant bill increase at once. It provides a less expensive way to improve our service.
Contact the Virginia State Corporation Commission to let them know you support securitization.
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