Rocky Mountain Power asks for slight rate decrease for its Wyoming customers
by Rocky Mountain Power
March 30, 2015
Rocky Mountain Power has asked the Wyoming Public Service Commission for a rate decrease totaling $17.6 million. For the average residential customer this will mean a decrease of 2.3 percent, or approximately $1.33, per month.
"When customers’ rates are set, they include the anticipated variable costs of electricity such as coal, natural gas and wholesale purchases. These costs fluctuate so there is a separate mechanism in place to make annual adjustments, subject to review by the Wyoming Public Service Commission. The proposed decrease is the result of such an annual filing and will be effective May 15, 2015, on an interim basis," said Rita Meyer, Rocky Mountain Power vice president.
Part of this requested decrease includes adjustment for the sale of Renewable Energy Credits (RECs). The RECs represent the environmental attributes of renewable energy produced by the company. RECs are sold on the open market and revenues are credited to customers to lower their bills.
"These adjustments produced the requested decrease for Wyoming customers," Meyer said. "We work hard to provide reliable electric service at reasonable prices, and these annual power cost adjustments are made so our customers do not overpay or underpay for the electricity they use."
The Wyoming Public Service Commission is currently reviewing the request for this decrease with interim rates scheduled to take effect May 15, 2015.