Arizona Public Service potential rate increase
YUMA, Ariz. (KYMA, KECY) - The Arizona Corporation Commission (ACC) have approved an electricity rate increase for Arizona Public Service (APS).
The electricity company has asked for a 10-percent increase in return on equity, or profits, instead they received a 9.55% increase.
President of APS, Ted Geisler, was able to share why the company is seeking this increase.
“We cannot continue this level of service without recovering costs and demonstrating to our lenders that Arizona’s regulatory environment is constructive once again our financial condition is seriously deteriorating and we need your help to improve this revenue deficiency," said Geisler.
The ACC will vote specifically on how much the increase will be.
If it's passed, APS said the average residential customer would see an increase of about 11%.
One local resident in Yuma is concerned because she believes if the electricity bill goes up, so will everything else.
“You know when your utilities go up our groceries go up our gasoline goes up everything goes up and it just makes it a lot harder when even utility rates go up,” said local resident, Janet Mueller.
Another person, who was actually in attendance at the meeting, shared why she did not agree with the increase.
“This fixed income is real. Arizona is the sun capital of the world, it’s a retirement place. This is a home of fixed income. This is where they’d go to finish their lives. I’m sorry to say it but they get a certain amount of money and you’re letting these guys (APS) take it,” said Nelson.
