ROCK SPRINGS – A third rate hike proposed by Rocky Mountain Power during the past two years will increase customer rates by 14.7% if approved by the Wyoming Public Service Commission.
RMP will host a meeting in Rock Springs Aug. 29 at the Holiday Inn from 4-7 p.m. regarding the proposal. This also isn’t the first time this year the company announced it would seek a rate increase.
According to RMP, the request comes from an increase in insurance premiums related to increased wildfire risks beyond what the company has faced previously. The company says it has had excess liability insurance costs increase 270% in one year and the 2023-2024 policy represents a 1,888% increase over the last five years.
Additionally, the company claims “significant capital investments” in the request including Wyoming’s share of the Gateway South and Gateway West transmission line projects and the Rock Creek I and II wind project.
“These project are helping us keep costs low for customers and maintain reliability,” the company said in an email to customers.
The public service commission is reviewing the filings, which RMP says includes two rate mitigation proposals aimed at limiting impacts on customers.
