Rocky Mountain Power Is Asking For Customers’ Feedback Amid Another Rate Increase Request

For a second year in a row, Rocky Mountain Power — a division of PacifiCorp, which is owned by billionaire Warren Buffet — claims that the cost of supplies, and the power company’s underestimation of coal and natural gas to fuel power plants, is to blame.  They want Wyoming ratepayers to make up for the lack of revenue by increasing rate.

In April, Rocky Mountain Power filed a request to increase their rates by 12.3%. If approved, that would generate $86.4M, making up for the inflated fuel costs of 2023. If the rate is approved by the Wyoming Public Service Commission, the 144,000 Wyoming customers would see a 9.3% increase in their bills, which translates to about $12 more, beginning in July and lasting for 12 months, according to a release from Rocky Mountain Power.

But residential customers would be the only ones feeling the increase. Large industrial customers in the state, like trona mines, oil and natural gas refineries, etc., which consume over 70% of the electricity Rocky Mountain Power provides to Wyoming would pay a higher percentage as well, according to filings with the state.

In another request filed earlier this month, Rocky Mountain Power is asking to cancel a ratepayer credit that was part of the former President Donald Trump’s Tax Cuts and Jobs Act. Rocky Mountain Power says these credits are about to expire, so to make up for the difference, they would want another 4>2% rate hike on top of their first request.  If that rate hike is approved, it would generate almost $30M from customers.

“We understand that a price increase is never welcome news, so we want to meet with customers to answer their questions and share with them the financial conditions our company is facing that are driving recent price increases,” Rocky Mountain Power Vice President for Wyoming Sharon Fain said in a statement.

Last year, the Wyoming Public Service Commission approved an 8.3% general rate increase allowing the company to tap ratepayers for a one-time fuel cost adjustment.

Rocky Mountain Power will be hosting a series of meeting across the state, asking for customers input about the rate changes.  Representatives from the company will be in Cody at the Holiday Inn at 1701 Sheridan Avenue on May 28th from 4p to 7p.

Company officials will discuss what’s driving higher utility costs and provide information about state and federal payment assistance programs as well as take feedback from those who attend the meeting