Southwestern Electric Power hikes rates in ArkansasPosted: November 26, 2009
Southwestern Electric Power Co. has won regulatory approval for two rate hikes for its Arkansas customers. SWEPCO said Wednesday that a base rate increase in December will raise residential bills by 5 percent, or $3.84 for a customer using 1,000 kilowatt hours per month. A second increase will go into effect upon completion next summer of a 508-megawatt, natural gas-fueled power plant in Shreveport, La. To help pay for the $386 million plant, Arkansas customers will see an increase of 4 1/4 percent, or $3.17 a month for 1,000 kilowatt users. Combined, SWEPCO customers will pay 9.41 percent more for electricity, or $7.01 per month for 1,000 kilowatt users. That comes to $84 per year.