CHARLESTON, W.Va. – Appalachian Power and Wheeling Power, together with the Public Service Commission of West Virginia (PSC) Staff, the PSC Consumer Advocate Division and multiple industrial customers, Monday filed a settlement agreement seeking the Commission’s approval in the companies’ ENEC case. The ENEC, or Expanded Net Energy Cost, is designed to reimburse the company for past and ongoing fuel costs (primarily coal) and purchased power. The settlement agreement would result in a rate decrease for customers.

The agreement reflects adjustments in fuel costs and purchased power, as well as some construction costs. If the PSC approves the settlement agreement, rates for West Virginia residential customers will decrease approximately 3 percent. Rates have not increased since mid-2011.

The PSC issued a procedural order setting a hearing on the stipulation for Aug. 28. If approved by the Commission, the settlement would be effective Sept. 1. Also as part of the settlement, the companies agreed to file a base rate case no later than June 30, 2014.

“The PSC Staff, Consumer Advocate Division and others in this case have worked hard to reach an agreement that puts the interests of customers first and foremost,” said Appalachian Power President and COO Charles Patton. “That cooperation has allowed us to reach a solution that will benefit all customers.”

Appalachian’s proposed rate of 9.4 cents per kilowatt-hour in West Virginia is below the national average residential price for electricity of 11.9 cents per kilowatt-hour (kwh). Tips for saving energy can be found on Appalachian’s website, www.AppalachianPower.com.