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The swelling surcharge is for vegetation management. Parent company FirstEnergy says will increase the monthly bill for an average residential customer by $2.47. That increase, for use of 1,000 kilowatt-hours per month, will come via a surcharge adjustment effective Jan. 1, 2024. The PSC order approved a roughly $16.9 million revenue increase over a two-year period for a 1% increase in total rates.
The West Virginia Energy Users Group and the West Virginia Coal Association have proposed to pay off about $500 million in excess fuel costs incurred since 2021 by securitizing, or spreading out the payments over 20 years.
Coal costs are looming anachronistically large in utility rate cases pending before the West Virginia PSC as renewable generation grows in the U.S. electric power sector.