>>Lawmakers Consider Proposal to Prohibit Appalachian Power Rate Increases Until March 2026
(Richmond, VA) -- A bill proposal hopes to reduce utility bills for those in southwest Virginia. Katie Gray with more.Preview: Voicer Script:
Giles County Republican Delegate Jason Ballard introduced House Bill 2621 to lower Appalachian Power customers' bills by reducing the utility's profits and rates. The Cardinal News reports the legislation would require more frequent rate evaluations by state regulators, prohibit rate increases during the winter, and create a financing mechanism to shield customers from certain costs. If passed, the bill could result in a 13% average reduction in rates and an estimated $1.41 billion profit reduction for the utility. It would also prohibit new rate increases until at least March 1st of 2026.