APS, Arizona’s largest electric utility, wants to raise residential rates by about 11%

Feb 21, 2024, 9:14 AM

PHOENIX – Arizona’s largest electric utility company is seeking a rate hike that would increase residential bills by an average of 11%.

Arizona Public Service (APS) President Ted Geisler said the impact would be closer to 7.5-8.5% for most residential customers, or about $10-$15 per month. He said current rates are still based on 2018 levels.

“This is about really updating rates to reflect the costs of service today and ensuring that we can begin recovering the cost for infrastructure that’s already in place so that we can continue to invest in the grid and prepare for the future,” Geisler told KTAR News 92.3 FM’s Arizona’s Morning News on Wednesday, a day before the Arizona Corporation Commission was expected to vote on the proposal.

APS initially filed a request for fee changes with the Arizona Corporation Commission (ACC), which regulates the state’s public utilities, in October 2022. Geisler said Wednesday his company has been working with stakeholders for 18 months to get the proposal to where it stands today.

When is decision on APS rate hike proposal expected?

The rate hike is the only item on the agenda for Thursday’s ACC meeting, which will include a public comment period.

“The decision hasn’t been made yet,” Geisler said. “We’d expect that to be done tomorrow, and we’re here to help. Those customers that need help with their bill, we have the largest energy support program in the state, and this proposal tomorrow is actually expected to expand that energy support program even further.”

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.

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APS, Arizona’s largest electric utility, wants to raise residential rates by about 11%