Appalachian Power has lowered the fuel factor rider rate on its Virginia customers’ bills on an interim basis, effective Wednesday.
The fuel factor recovers actual cost for coal and natural gas used in the generation of electricity and other purchased power expenses.
The company filed its annual fuel factor update with the Virginia State Corporation Commission (SCC) in September requesting a reduction in that rate for its Virginia customers. The SCC will determine if the interim rate will remain in effect after receiving testimony in the case.
Fuel costs are about 20 percent of a residential customer’s total bill and was previously 2.301 cents per kilowatt-hour (kWH) or $23.01 for a customer using 1,000 kWh a month. The rate is now 2.169 cents per kWh, a reduction of $1.32 per month for that same customer.
Virginia residential customers will pay a total rate of approximately 11.6 cents per kWh, which is about 13 percent below the average rate for U.S. residential customers.
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