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Rate Increase

All articles tagged with #rate increase

business1 month ago•1 min saved

PGE pushes new rate case seeking 3.9% residential rise to fund grid upgrades

Portland General Electric asks Oregon's Public Utility Commission for a general rate increase of 4.8% overall (effective July 1, 2027), with residential customers facing about a 3.9% average bill rise (roughly $8.33/month for 780 kWh) to fund electric grid upgrades, wildfire-risk line rebuilds, and 600,000 upgraded meters. The filing follows prior hikes since 2022 and recent 29% increases for large data centers under the POWER Act; PGE also proposes capping annual base rate hikes in 2028–2029 to inflation, with a public review process to evaluate investments.

via KPTV|

#business #data-centers #oregon

politics2 months ago•2 min saved

Braun reshapes Indiana’s utility regulator after AES rate decision

Gov. Mike Braun replaced Andy Zay as chairman of the Indiana Utility Regulatory Commission with Anthony Swinger, effective immediately; Zay remains on the five-member panel. The shake-up follows Braun’s criticism of the IURC’s approval of AES Indiana’s roughly $70 million annual rate increase. Swinger did not vote on the AES case due to his prior work with the Indiana Office of Utility Consumer Counselor. The IURC sets rates for electricity, natural gas and other utilities. Zay’s chair salary was $163,000 vs Swinger’s $152,000 as commissioner. Braun can remove members for cause but did not; Veleta and Ziegner are the other commissioners, with Ziegner’s term through 2027.

via Indiana Capital Chronicle|

#aes-indiana #governor #indiana

business6 months ago•4 min saved

DTE Plans Fresh Electric Rate Case After Recent Hike

DTE Energy says it will file for another electric rate increase in Michigan, around April 27, after a $242 million hike was approved, prompting criticism from the attorney general who argues frequent rate cases burden customers; DTE contends investments have improved reliability and that bills are relatively low, with any adjustment not taking effect until 2027 under the current process.

via The Detroit News|

#business #dte-energy #electric-bills

business11 months ago•0 min saved

Massachusetts Gas Customers Face Winter Rate Hikes Amid Outrage

Eversource gas customers in Massachusetts will face a 13% rate increase this winter, starting November 1, which will raise the average monthly bill by about $41.24 for typical usage, pending approval by the Department of Public Utilities.

via The Boston Globe|

#business #eversource #gas-rates

real-estate2 years ago•2 min saved

N.C. Insurance Commissioner Settles 8% Dwelling Rate Hike for November

North Carolina Insurance Commissioner Mike Causey announced an average statewide 8% increase in dwelling insurance rates, significantly lower than the 50.6% hike requested by the NC Rate Bureau. The new rate, effective Nov. 1, will vary by territory and applies to non-owner-occupied residences with four or fewer units. Causey emphasized the savings for consumers and the avoidance of a costly hearing, while urging insurance companies to cut expenses and address high executive salaries.

via WTVD-TV|

#dwelling-insurance #insurance-rates #mike-causey

business2 years ago•1 min saved

"USPS Proposes 5th Stamp Price Hike in 3 Years to 73 Cents"

The U.S. Postal Service is planning a 7.8% rate increase, including raising the cost of a first-class stamp from 68 cents to 73 cents, in an effort to achieve financial stability and address what it calls a "defective pricing model." The proposed increase, if approved by the Postal Regulatory Commission, would take effect on July 14 and also includes adjustments to special services such as money order fees and certified mail, while keeping post office box rental prices unchanged and reducing postal insurance fees by 10%.

via Fortune|

#business #financial-stability #postal-regulatory-commission

energy-regulation2 years ago•2 min saved

"OUCC Recommends Substantial Cut in CenterPoint's Proposed Rate Increase"

The Indiana Office of Utility Consumer Counselor (OUCC) is recommending a significant reduction to CenterPoint Energy Indiana’s proposed $118.8 million (16%) base rate increase, suggesting an increase of $33.1 million (4.5%) instead. The recommendation follows testimonies from thirteen OUCC witnesses and extensive community engagement, with specific proposals to maintain customer service charges, decrease the utility’s authorized return on equity, and implement consumer protections. CenterPoint Energy's rebuttal testimony is due on Apr. 9, 2024, with a final order from the Indiana Utility Regulatory Commission expected in the fall.

via 14 News WFIE Evansville|

#centerpoint-energy #consumer-protection #energy-regulation

business2 years ago•1 min saved

PGE Seeks 7.4% Rate Increase for 2025

Portland General Electric has filed a request for a 7.4% rate increase in 2025 to support investments in local battery energy storage systems, following a 17% rate increase approved for this year. The request is now under review by the Oregon Public Utility Commission, which will conduct a 10-month review process. PGE has also expanded its income-based discount program, offering up to 60% discounts to eligible customers, and has seen a 65% growth in program enrollment since 2022. The rate hike request comes after PGE suffered a $30 million loss from a January 2024 ice storm, prompting concerns from consumer advocates about the impact of multiple rate increases on customers.

via KOIN.com|

#business #energy-storage #income-based-discount-program

business2 years ago•2 min saved

Portland General Electric Seeks 7.4% Rate Increase for 2025

Portland General Electric has requested a rate review with the Oregon Public Utility Commission, seeking a 7.4% rate increase in 2025 to fund investments in battery storage and infrastructure improvements. This comes after recent rate hikes, totaling over 42% since 2021. Customers are feeling the financial strain, with rising utility costs adding to existing financial pressures. The utility company serves over 930,000 customers in Oregon, and while it offers rebates and incentives for energy efficiency, the proposed rate increase has sparked concerns about affordability.

via Fox 12 Oregon|

#business #energy-efficiency #infrastructure-improvements

energy-finance2 years ago•2 min saved

"Eversource's Warning: Proposed Rate Hike Sparks Concern Over Soaring Power Costs"

Eversource, Connecticut's largest electrical utility, has filed for a rate increase that could raise the average household bill by $38 a month, attributing the spike to a 2019 state deal with Dominion Energy and initiatives adopted during the COVID pandemic. The company has proposed solutions to shield customers from "rate shock," including phasing in the potential rate increase over time and changing the ratemaking methodology to forecast costs and avoid future issues.

via Ridgefield, CT Patch|

#connecticut #dominion-energy #energy-bills

finance2 years ago•2 min saved

"Florida Insurers Push for Over 50% Premium Increases"

Two private insurance companies in Florida, Castle Key Insurance and Amica Mutual Insurance Company, are seeking approval for average rate increases of over 53% for specific types of policies, such as condo owner and dwelling fire policies. The companies attribute the proposed hikes to severe storm losses, increased rebuilding costs, and inflation. Despite recent property insurance reforms, Florida continues to have the highest home insurance rates in the US. Public hearings will be held to review the rate increase requests.

via WJXT News4JAX |

#finance #florida #insurance

energy2 years ago•6 min saved

"Georgia Power Customers to Face Rate Hike for Plant Vogtle Expansion Costs"

The Georgia Public Service Commission (PSC) has approved a plan that will pass most of the costs for the completion of Plant Vogtle's two new nuclear reactors onto Georgia Power customers. The decision allows Georgia Power to charge ratepayers for $7.56 billion of the $10.2 billion expected to be spent on the project, resulting in another rate increase of about 6% for residential customers. The approval comes after years of budget overruns and delays, with the total cost of the project now estimated at $35 billion. Critics argue that ratepayers would have been better served by investing in natural gas plants instead.

via The Atlanta Journal Constitution|

#energy #georgia-power #georgia-public-service-commission

energy2 years ago•3 min saved

"Ratepayers Foot the Bill for Georgia Power's New Nuclear Reactors"

The Georgia Public Service Commission has unanimously approved a 6% rate increase to cover the remaining costs of Georgia Power Co.'s Plant Vogtle nuclear reactors, amounting to $7.56 billion. The rate increase is expected to add $8.95 per month to a typical residential customer's bill and will take effect once Unit 4 begins commercial operation, projected for March. The total cost of the project, including previous cost overruns and payments from the original contractor, is estimated to be around $35 billion. The approval comes after years of debate and could potentially discourage utilities from pursuing nuclear power due to the high costs involved.

via The Associated Press|

#energy #georgia-power #georgia-public-service-commission

energy2 years ago•3 min saved

Regulators Approve Lower Costs for Georgia Power's New Nuclear Reactors, But Electric Bills Still Set to Rise

The Georgia Public Service Commission has unanimously approved a 6% rate increase to cover the remaining $7.56 billion in costs for Georgia Power Co.'s Plant Vogtle, which includes the construction of two new nuclear reactors. The rate increase is expected to add $8.95 per month to a typical residential customer's bill. The approval marks the final accounting for Georgia Power's portion of the project, which is projected to cost a total of $31 billion. The reactors, Units 3 and 4, are the first new American reactors built in decades and are expected to begin commercial operation in March. Critics argue that the high cost of the project may discourage utilities from pursuing nuclear power.

via WTVC|

#energy #georgia-power #georgia-public-service-commission

business2 years ago•5 min saved

Illinois Regulators Deny Rate Hike Requests from Utility Companies

The Illinois Commerce Commission has rejected ComEd's four-year grid improvement plan and slashed its proposed $1.47 billion rate increase, while also turning down an emergency motion by Peoples Gas to restore $134 million of disallowed pipeline infrastructure funding for 2024. The decisions will hold down rate increases for Chicago-area gas and electric customers entering 2024, while putting more pressure on the utilities to justify infrastructure improvements going forward. The rulings reflect a shift towards a more consumer-friendly approach and a focus on accountability, as the state aims to accelerate its transition to clean energy.

via Chicago Tribune|

#business #comed #illinois-commerce-commission