ROANOKE, Va., July 10, 2025 – Appalachian Power Company (APCo) took a major step towards reducing customer bills. In an application filed with the Virginia State Corporation Commission (SCC), APCo is requesting approval to securitize certain company assets to minimize future financial impacts to customers.
APCo’s securitization petition aims to save customers money compared to recovering costs through traditional rate mechanisms. APCo proposes to recover over $140 million in storm restoration costs incurred from January 1, 2024, to March 31, 2025, as well as the Virginia share of undepreciated plant balances related to APCo-owned Amos and Mountaineer power plants. By recovering these costs over an extended period and at favorable interest rates with securitization, a residential customer using 1,000 kWh could save approximately $11.44 per month compared to traditional rate mechanisms.
“With costs continuing to rise across many industries, we understand the immediate need to find creative solutions that lessen the impacts on our customers while still allowing us to invest in sustainable energy solutions for our communities,” said Aaron Walker, Appalachian Power president and chief operating officer. “Today, we’re building off the relationships created with our Virginia legislative partners to offer solutions that provide immediate financial relief to our customers in Virginia.”
For more information on securitization and its benefits, visit AppalachianPower.com/Securitization.