CHARLESTON, W.Va. — For the first time, Appalachian Power and Wheeling Power are offering discounts on electrical service to certain new and expanding businesses in West Virginia.
Jeri Matheney, communications director for Appalachian Power, said the incentive rate is designed to give the Mountain State “a competitive edge.”
“We’ve never had a rate specifically designed to help attract business to the state or attract a business that might grow its existing business,” Matheney told MetroNews.
“It’s clear that we need everything we can do as a state, we need to bring everything we can think of to the table to help the state grow.”
The new rate is available to new or existing Appalachian Power and Wheeling Power customers with a power demand of 500 kilowatts or more, creating at least ten new jobs or investing at least $2.5 million in expansion.
The details of the incentive rate for companies that qualify will be worked out with Appalachian Power and Wheeling Power.
In general, overall savings could add up to 15 percent.
“If we want to grow our state, even grow our own business, the way to grow our own business is to bring new business into the state,” Matheney said.
“We have a vested in doing this and it helps all customers as well because any fixed costs that exist will spread out between more customers and that can help keep rates down.”
The state Public Service Commission approved the incentive rate in January.
“We’re hoping this incentive just sort of tips of scales in West Virginia’s favor as a business looks where they want to grow or expand,” Matheney said.