Mon Power, Hope Gas seeking rate increase

BRIDGEPORT, W.Va (WDTV) - Two utility companies are seeking a rate increase from the West Virginia Public Service Commission.

Both Mon Power and Hope Gas made filings this week with the PSC.

Mon Power and Potomac Edison, both subsidiaries of FirstEnergy, filed for a $207 million increase of the current base rate. If approved, the average residential customer’s bill would increase by 15%, or $18.07, a month.

“While strict cost management and careful planning have allowed us to keep our West Virginia electric rates the lowest among the state’s investor-owned electric companies, an adjustment is required to keep pace with rising prices and allow us to continue making critical electric system enhancements,” said Jim Myers, president of FirstEnergy’s West Virginia operations. “Our proposal supports ongoing preventative maintenance and equipment enhancements that would reinforce the grid against progressively stronger storms.”

Hope Gas, which provides natural gas to almost every county in north-central West Virginia, filed for a $66.5 million rate increase. If approved, the average residential customer’s bill would increase by about 5.8%, or $6.45, a month.

The PSC is scheduled to make a decision on the rate increase requests by March 2024.