SWEPCO announces interim fuel adjustment for Arkansas customers

SWEPCO announced this week that an interim fuel adjustment for Arkansas customers to help recover higher-than-expected fuel costs during the summer months.
SWEPCO filed an adjustment to the Energy Cost Recovery rate on September 21 with the Arkansas Public Service Commission that will raise the fuel factor rate. The new rate will go into effect the first billing cycle of October 2022 and remain through March 2023.
Lower customer base rates for the winter period beginning in October will help lessen the overall impact to customers. SWEPCO residential customers in Arkansas using 1,000 kilowatt-hours will see a total increase of approximately $12.05 per month. 
The Energy Cost Recovery is typically set annually in the spring based on a 12-month market forecast for the cost to purchase fuel to generate electricity. SWEPCO can request adjustments throughout the year if the cost of fuel is significantly higher or lower than the annual rate set for customers.
The cost of natural gas has been two to three times higher compared to last summer. The cost to purchase fuel is a direct pass-through to Arkansas customers with no profit to the company.