Miller: Happy to see SCC turn down APCO rate request | Chroniclers
I read with great relief the Roanoke Times article written by Laurence Hammack titled “SCC Denies Rate Increase Request” (11/25/20).
The fact that the State Corporation Commission bluntly and uncompromisingly denied Appalachian Power Co.’s request to increase its base rate by an additional $ 10 per month is a great triumph for all residents of Virginia.
When APCO announced plans to raise its rate earlier this year, I couldn’t believe the greed and arrogance that APCO management displayed in the wake of the COVID-19 pandemic. Virginians were losing their jobs; pay checks were reduced if not eliminated; Unemployment rates began to skyrocket, but APCO’s senior officials ignored the economic and health crisis in the name of their “legislative” profit of 9.42%. When was the last time residents of Virginia received a 9.42% raise?
“Hero” status should be granted to the Virginia Attorney General’s office, which called APCO’s request “unreasonable!” And we must congratulate the members of the Commission on Crown Corporations for denying the blatant increase in tariffs. APCO you are not ashamed!
Indeed, APCO management has no shame; they don’t have a moral compass; and they have no compassion for all the residents who will be forced to cut their food expenses to fund this greedy, immoral and reprehensible enterprise that claims to “serve” the residents of Virginia. Because in an article published on 11/28/20, APCO will appeal the decision of the Commission of State Corporations to refuse the 10% rate increase to the Supreme Court of Virginia! During APCO’s three current rate increases, APCO has generated almost $ 2 million in excess revenue! Where is this excess income going? I’m sure a large chunk of these profits will line the pockets of senior executives and shareholders.