Summit Utility customers to see a more than 23% rate increase [View all]

The Arkansas Public Service Commission (APSC) on Thursday (Nov. 21) approved a more than 23% average increase in natural gas residential energy bills for Summit Utility customers. The Colorado-based utility has between 415,000 and 420,000 Arkansas customers.

Summit Utilities Arkansas filed a rate increase request with the APSC Jan. 25. The initial request sought to increase the monthly bill for the typical residential customer by almost 30%. The request also sought to raise Summit’s authorized revenue in Arkansas from $169.474 million to $279.949 million, an increase of 60.53%.

That initial request was challenged by the office of Arkansas Attorney General Tim Griffin, the Arkansas Gas Consumers, the Hospitals and Higher Education Group, and the APSC staff. The challenge resulted in several months of negotiations between the parties and APSC staff.

The agreement announced Thursday lowered Summit’s request for an 11% return on equity to 9.85%. Part of the order also requires Summit to temporarily lower the cost of winter gas – a component of a monthly bill – by 17% related to recovery costs associated with a 2021 winter storm in Arkansas. The decreased recovery will end in April 2025.

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https://talkbusiness.net/2024/11/summit-utility-customers-to-see-a-more-than-23-rate-increase/