Rocky Mountain Power Proposes First Rate Increase in Five Years
Rocky Mountain Power has submitted a proposal that would make some adjustments to their energy prices starting in 2021.
The proposal was submitted to Wyoming's Public Service Commission this past Monday, and should the proposal be approved, rates would increase for the average residential customer by about $3.69 per month. The proposal also requested to decrease commercial rates by 0.8 percent per month. This would be the first time in five years that rate increase has been requested by Rocky Mountain Power in five years.
The plans for the 1.1 percent increase would go towards $7.1 million that would fund Energy Vision 2020, which is a renewable energy initiative that was launch back in 2017. The initiative involves several new wind energy projects and transmission lines in Wyoming. The new wind energy projects will help to generate 1,150 additional megawatts of wind energy by the end of 2020.
Rocky Mountain Power currently provides power for approximately 146,000 residents in Wyoming. The company has said its rates are also 34 percent below the national average.