ROANOKE, Virginia — Appalachian Power is seeking regulatory approval to reduce the fuel factor for its Virginia customers.
The fuel factor represents about 25 percent of a residential customer's bill. It amounts to about 2.9 cents per kilowatt hour, or nearly $30 for a typical monthly bill.
The company is seeking a two-step reduction in the fuel factor. The first would kick in in October, reducing the fuel factor to 2.6 cents per kilowatt hour. The fuel factor would then be lowered to 2.3 cents per kilowatt hour in January 2016.
In its filing, Appalachian Power told the State Corporation Commission lower natural gas and coal prices have declined.
Residential customers pay $114.92 for their Appalachian Power bills per month.