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Regulators approve settlement in Arkansas Western Gas rate increase Saturday, Jul 14, 2007 Arkansas News Bureau LITTLE ROCK - State regulators have approved a 2.28 percent rate increase for residential customers of Arkansas Western Gas Company, the Arkansas Public Service Commission said Friday. The typical residential customer will pay an extra $1.38 a month under the settlement agreed to by PSC staff, the attorney general's office and the Fayetteville-based company. Rates will rise 3.43 percent overall, or $5.8 million a year, based on a return on equity of 9.5 percent. The company originally requested a 6.82 percent increase in rates, which would have increased a typical residential customer's monthly bill by $5.65. The company initially requested a return on equity of 10.79 percent. Revenues would have increased by $13.1 million under the original proposal. The settlement also included a new tariff for the company on a three-year basis, to account for a decline in the units of gas sold following implementation of the new rates. Arkansas Western provides natural gas service to more than 145,000 customers in more than 90 communities in Arkansas. |
