May 1, 2024 |
Photo – Rocky Mountain Power logo – Bigfoot99 file photo
Ahead of planned rate hikes for its customers, Rocky Mountain Power has announced a series of meetings to be held around Wyoming this month to explain the increases.
Customers in the Cowboy State could see rate increases of $12 per month on their electricity bills.
In a news release, the utility blames Biden-era inflation, rising insurance costs and the infrastructure improvements in wind generation to deliver power to its customers in Washington State. Although much of the electricity for the Pacific Northwest is generated here in Carbon County, Wyoming, electricity users here will not benefit from it. Wyoming only will see the price increases from the increased costs Rocky Mountain Power paid to build the system.
RMP advises that its Wyoming customers could see an overall increase of 16.5% this year.
According to the utility company’s own numbers, a typical residential household which uses 700 kilowatt hours each month will see a $12 rate increase.
Rocky Mountain Power also blames the loss of a 4.2 % federal tax credit instituted by the Donald Trump Administration with the Tax Cuts and Jobs Act is set to expire in July. President Biden has not extended the tax credit. The utility wants to pass on the nearly $30 million cost to its utility customers.
In total, Wyoming customers could see their electricity bill from Rocky Mountain Power increase by 16.5% this year.
The meeting in Rawlins to discuss the increases will be held on Wednesday, May 15 from 4 to 7 p.m. at the Econolodge on E. Cedar Street.
Other meetings will be held this month in Casper, Laramie, Riverton, Rock Springs, and Cody.
Rocky Mountain Power is a division of Warren Buffet’s PacifiCorp. The company says it underestimated costs of coal and natural gas to fuel its power plants and to buy electricity on the open market. The company is hitting Wyoming rate payers to make up the difference between actual costs and its inaccurate forecasting.
The increase ultimately is dependent on Wyoming regulators with ratepayers in the state on the hook for the monthly increase.
This may not be the only increase Wyoming customers have to pay. In addition to loss of landscape to the company’s wind turbines to deliver electricity to Washington State, Rocky Mountain Power may be back for another increase later this year, although the company has not spoken publicly about the proposal.
Last October, state regulatory authorities approved an 8.3% general rate increase rather than the 21.6% increase Rocky Mountain Power had requested of its Wyoming customers.
Rocky Mountain Power then sought to add $32 million in additional charges, which the Wyoming Public Service Commission rejected.
Now the company is back for more money. Nothing in state law prevents the utility company from coming back with more proposed rate hikes like it is now.
The meeting in Rawlins is set for May 15 at the Econolodge from 4 to 7 p.m.
