PSC Approves CLFP Rate Increase to Cover Plant Construction
The Wyoming Public Service Commission has approved a rate increase for Cheyenne Light, Fuel and Power customers to help the utility pay for construction of the new Cheyenne Prairie Generating Station. CLFP Vice President for Operations Mark Stegge says the average residential customer will see an increase of about 1 percent per quarter on their electric bill, or about a dollar per month per quarter, starting with this month’s bill. Stegge says construction on the power plant should be completed by October of 2014.
Stegge says that although the PSC decision does mean customers will be paying more over the short term, they will save money over the long-run by paying the costs of financing the construction earlier and decreasing the amount of interest that must be paid. Stegge says the increased cost to commercial customers because of the increase will vary widely, depending on how much electricity they use.