SHREVEPORT, La. (KTAL/KMSS) – SWEPCO customers in Arkansas will see a bump in their July electric bills after the Arkansas Public Service Commission (APSC) approved a new base rate and interim fuel adjustment for the power provider.
Residential customers in Arkansas will see their bills increase by about $13.02 per month, according to SWEPCO.
Commercial, industrial, municipal, and lighting rate customers the change will be impacted by rate class and usage characteristics.
SWEPCO says that the rate increases reflect investments the company has made in reliability and improvements to the resiliency of the power grid and clean power generation. That included constructing and purchasing three wind facilities at the North Central Energy Facility in Oklahoma.
“We understand customers have concerns regarding increases in energy costs,” said SWEPCO president and Chief Operating Officer Malcolm Smoak. “We believe the best way to hold down fluctuating cost drivers, such as natural gas, is to invest in a diverse energy mix. The fuel savings and tax credits SWEPCO gains with the addition of NCEF help offset the cost of these facilities, resulting in continued long-term savings to customers.”
SWEPCO filed the base rate request with the APSC in July 2021. The APSC authorized an annual increase of $48.7 million on May 23, 2022. The final order was issued on Thursday, July 29, authorizing the billing changes which will effect the 124,800 customers that SWEPCO serves in Western Arkansas.