ROANOKE – Appalachian Power Co. announced Friday it is not seeking an increase in the fuel factor component of its electric rates.
The company filed a request with the Virginia State Corporation Commission (SCC) to leave the current fuel factor component of rates unchanged, spokesman Todd Burns said in a press release.
The fuel factor is aimed at recovering, dollar-for-dollar, APCo’s costs for fuel, primarily coal, and purchasing power. It is often adjusted annually and Burns said the company does not profit from the fuel factor.
The current fuel factor, 2.953 cents per kilowatt-hour, has been in place since June 2012.
The proposal to leave the fuel factor unchanged is subject to review and approval of the SCC.