May 2, 2024 — Wyo4News
Rocky Mountain Power has announced a May 17 public meeting in Rock Springs to inform the public about the company’s request for another rate increase. This time, Rocky Mountain Power will seek approval from the Wyoming Public Service Commission for a proposed 12.3% rate increase. Other meetings on this subject are scheduled for Casper (May 13), Laramie (May 14), Rawlins (May 15), Riverton/Lander (May 16), and Cody (28).
According to the Rocky Mountain Power website, This year’s requested rate increases are largely driven by fuel and wholesale electricity price increases in 2023 that resulted from coal supply disruptions and severe weather. Inflation, rising insurance costs and the need for crucial infrastructure investments are also having an impact on customer rates.
Separately, certain federal tax benefits that have been passed to customers are ending, meaning rates will be impacted by 4.2% in July when the tax credit will have been fully returned to customers and thus exhausted.
In total, Wyoming customers may experience a 16.5% rate increase this year.
Last November, the Wyoming Public Service Commission granted Rocky Mountain Power an 8.3 percent rate increase while the company had been asking for a 21.6 rate increase. The new rate increase began January 1.
