JOPLIN, Mo.--(BUSINESS WIRE)--
The Empire District Electric Company (EDE) today filed a request with the Arkansas Public Service Commission (APSC) for changes in rates for its Arkansas electric customers. The Company is seeking an annual increase in total revenue of approximately $2.2 million, or about 18 percent. This will be the first increase in base rates for Empire’s Arkansas customers since April 2011.
If approved, the residential customer charge would increase $2.85 per month. This, along with the increases in usage charges, will result in a total monthly increase of approximately $20 for a residential customer using 1,000 kilowatt hours.
In making the announcement, Brad Beecher, president and CEO, stated, “We are seeking new rates to recover costs incurred to ensure continued reliable service for our customers, including capital investments, operating systems replacement costs, and ongoing increases in other operation and maintenance expenses and capital costs.”
Following today’s filing with the APSC, an extensive audit of Empire’s operations, a public hearing, and an evidentiary hearing will be held by the APSC. Empire anticipates that any new rates approved by the APSC would not become effective until late summer 2014.
Based in Joplin, Missouri, The Empire District Electric Company (EDE) is an investor-owned, regulated utility providing electric, natural gas (through its wholly owned subsidiary The Empire District Gas Company), and water service, with approximately 216,000 customers in Missouri, Kansas, Oklahoma, and Arkansas. A subsidiary of the company provides fiber optic services. For more information regarding Empire, visit www.empiredistrict.com.
Certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements address future plans, objectives, expectations, earnings, and events or conditions concerning various matters. Actual results in each case could differ materially from those currently anticipated in such statements, by reason of the factors noted in our filings with the SEC, including the most recent Form 10-K and 10-Q.
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