Southwestern Electric Power Company has been given the approval for two rate hikes for its Arkansas customers.
The Arkansas Public Service Commission approved the base rate increases. The first change will result in an increase of about $3.84 a month, or 5.15%, overall for a residential customer using 1,000 kilowatt-hours. The increase should show up on December bills.
The second increase, about $3.17, will go into effect after the completion of a 508-megawatt, natural gas-fueled power plant in Shreveport, Louisiana. The $368 million project is expected to be completed next summer.
"During these challenging economic times, all parties worked to achieve a reasonable compromise which we believe will serve the company and our customers well," said Paul Chodak, SWEPCO President and Chief Operating Officer.
The Arkansas Public Service Commission approved the base rate increases. The first change will result in an increase of about $3.84 a month, or 5.15%, overall for a residential customer using 1,000 kilowatt-hours. The increase should show up on December bills.
The second increase, about $3.17, will go into effect after the completion of a 508-megawatt, natural gas-fueled power plant in Shreveport, Louisiana. The $368 million project is expected to be completed next summer.
"During these challenging economic times, all parties worked to achieve a reasonable compromise which we believe will serve the company and our customers well," said Paul Chodak, SWEPCO President and Chief Operating Officer.
