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Electricity costs may increase come 2019

Posted at 2:38 PM, Sep 21, 2018
and last updated 2018-09-21 19:22:25-04

Electricity might be getting more expensive. One of the state’s largest power providers needs money to help recover from Hurricane Harvey.

AEP Texas representatives said Hurricane Harvey cost them approximately $415 million in terms of damage done to the electrical grid in the Coastal Bend.

“This was the most extensive storm that we’d encountered since Hurricane Celia back in 1970,” Larry Jones said.

 The company is now asking the Texas Public Utility Commission to approve a two-step plan to get that money back.

 This means residents could be paying more for power as early as next year.

 Jones stressed this is not a permanent rate increase. Instead, the charges will show up as additional fees on monthly bills as part of that two-step plan.

 All of these changes require PUC approval. An AEP Texas spokesperson said customers will receive updates before these possible charges go into effect.

 “The amount of impact on customer bills will really be determined as we move forward through the process and particularly as we move into the second step in this process,” Jones said.

 AEP said those fees will be removed from monthly bills once the cost of Hurricane Harvey repairs and labor is paid for.

 AEP Texas produced a YouTube special titled “Rising Above the Storm… Together” which features extensive KRIS 6 News footage.