Credit rating firm says APS deal on rate boost helps company

By The Associated Press

A top credit ratings firm says an agreement between Arizona's largest electric utility and solar and consumer advocates that allows it to avoid a fight over increasing rates is a positive for the company.

 

PHOENIX (AP) — A top credit ratings firm says an agreement between Arizona's largest electric utility and solar and consumer advocates that allows it to avoid a fight over increasing rates is a positive for the company.

Moody's Investors Service calls the settlement reached by Arizona Public Service Co. "a significant and credit-positive step" that should allow state regulators to approve a rate increase by mid-year.

Moody's says in a Monday research note that the deal lets APS charge an extra $87 million a year and cut lag-time between investments and rate increases.

A typical homeowner will pay $6 more a month, below the $11 APS wanted. A plan to charge everyone more during peak periods was dropped but new rooftop solar customers will get less for excess power sold back to APS.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs