Called a transmission rate adjustment clause (T-RAC) on customer bills, the rate adjustment is scheduled to become effective in May 2014.
The new charge will increase the monthly bill of a residential customer using 1,000kWh of electricity by approximately $3.88 or 3.5%.
APCo has originally requested an increase of $49.9m in December 2013, but later agreed to a lower revenue requirement for the transmission costs of $48.6m, following an investigation by the SCC staff.
Under Virginia law, the companies may seek SCC approval to recover, through a rate adjustment clause, certain costs for transmission services provided by a regional transmission entity.
Â
