David Wichner Home customers of Tucson Electric Power will see their bills rise an average of about $11 per month starting next month, based on tentative figures under new rates approved Tuesday by state regulators.
That proposed bill increase was too much even for TEP, which countered with a proposal that would raise home rates an average $10 to $11 depending on determination of a key profit measure. She estimated her amendment would cut the average monthly home bill increase to just over 10%, instead of 14.7% recommended by ACC Administrative Law Judge Belinda Martin, who said her intent was to reduce business subsidies of residential rates.
Her amendment passed on a 4-1 vote, with the ACC’s lone Democrat Anna Tovar voting against it based on her opposition to the proposed return on equity. The amended order passed on a similar party-line vote. “It’s hard for me to understand why, as a company that provides consistent reliability and high customer satisfaction, why we should be further penalized,” by a low return on equity, Gray said, adding that would “send a troubling signal to the company and the capital markets.”
On Tuesday, TEP agreed to accept a return on equity of 9.55%, without any adjustment for fair-value changes, at the urging of Commissioner Nick Myers.
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