Regulators reduce rates for Arizona’s largest power company

PHOENIX (AP) — Most Arizona Public Service customers will see a small decrease in their bills after state regulators slashed the rates that the state’s largest electric utility can charge. The Arizona Republic reports the state’s corporation commission on Tuesday gave final approval to a plan that will reduce APS base rates by about $119 million. The company vowed to sue, calling the decision “shortsighted” and warning it will increase consumer costs in the long run. The rare rate reduction reflects a significant change of fortunes for the utility, which in 2017 was granted a large rate hike.