Commission halves SWEPCO rate increase
Longview — The Public Utility Commission of Texas has granted AEP Southwestern Electric Power Co. a rate increase totaling less than half what the company had been seeking.
The three-member commission voted unanimously Thursday to grant an increase of about $39 million, said commission spokesman Terry Hadley. SWEPCO had been seeking a total increase of $83 million.
The impact on rates wasn’t immediately clear.
Under its request filed in July 2012, the company said the average residential bill would increase by about 16 percent, or $12 a month.
Read more at www.news-journal.com