APS seeking 6.6 percent rate hikePosted: Updated:
PHOENIX (AP) -- Arizona Public Service Co. is asking state regulators for a 6.6 percent rate increase. If approved, the rate hike would add a little over $8 to the average monthly bill.
APS says it needs extra revenue to help pay for system improvements and enable the company to incorporate more smart technology into Arizona's electric grid.
APS President and Chief Operating Officer Don Robinson says the utility is spending about $1 billion a year on power system improvements.
Meanwhile the head of the Residential Utility Consumer Office says they plan to look at the company's finances to see if the rate hike request is warranted.
The rate hike request likely will spend several months to a year under review by state regulators.
APS serves more than 1.1 million customers in Arizona.