Arizona utility regulators approve rate hike for APS, the state’s largest electric company
Feb 23, 2024, 9:00 AM
Regulators approved a rate hike for Arizona Public Service, the state's largest electric utility company, on Feb. 22, 2024. (Arizona Public Service Photo)
(Arizona Public Service Photo)
PHOENIX — Arizona Public Service customers will soon see higher bills after regulators approved a rate hike Thursday night for the state’s largest electric utility company.
After a 10-hour hearing, the Arizona Corporation Commission voted for an increase that was slightly lower than what APS requested.
APS President Ted Geisler told KTAR News 92.3 FM’s Arizona’s Morning News on Friday that the typical residential customer will pay $10-$12 more per month, with the new rates going into effect March 1. Changes will vary depending on rate plan and energy use.
“We ended up with about an 8% increase,” Geisler said. “That number still needs to be finalized today.”
Did APS raise fees for customers with solar systems?
The new pricing includes a fee increase for APS customers with rooftop solar systems.
RELATED STORIES
“When the cost of service to serve those customers was studied, it was found that they really need to pay about $2.50 more than what they were to ensure that they’re paying their fair share of use of the grid,” Geisler said.
Thursday’s hearing was the culmination of an 18-month process.
“While this increase is definitely less than our original request, we think the commission found a fair balance between trying to protect customers but also ensure that we’re able to recover costs so that we can continue to invest in the grid and strengthen reliability for future summers,” Geisler said.
“It’s a tough position that they’re in to be able to find that balance, and this will allow us to be able to continue to ensure we can serve customers reliably going forward.”
How can APS customers save on their bills?
Geisler encouraged customers to visit the APS website for information about how they can save on their bills.
“We have great energy savings tips. Part of this rate case included expanding our energy support program to offer even more funding and more ways to save,” he said.
“We really want to make sure that our customers know that we’re there for them and we’re here to help.”
APS, which is owned by publicly traded Pinnacle West Capital Corp., provides electricity for about 1.4 million customers statewide. The utility company’s service area includes a portion of Phoenix along with Valley suburbs to the west and north.
