Rocky Mountain Power won’t increase rates after all

5 Mar

It’s another twist in the strangely dramatic story of Rocky Mountain Power’s proposed rate hike.They might! They will! They won’t! Get it together, Rocky Mountain Power!

The Utah-based company already increased rates by 6.78 percent last year, but had planned on increasing residential rates by another 5.5 percent on the first of 2012, with another 5.1 increase planned for 2013. In January, they announced an Idaho Public Utilities Commission-approved plan to increase rates of 11.28 percent by 2013, more than they had planned.

But although it claimed it isn’t collecting enough money from eastern Idaho customers to cover its power supply expenses, the company said it isn’t seeking a future rate increase after all. They think the power supply costs will actually decrease significantly next year.

Instead, Rocky Mountain Power is looking to collect about $2.6 million in power supply expense from two large industrial customers, Onsanto and Agrium. The IPUC said the total amount to be collected from the two companies totals about $7.7 million, but that amount would be spread over three years.

it’s good news for residential users, but bad news for Onsanto and Agrium. The IPUC will take public comment on the adjustment proposal through March 13.

[via LN8]

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