CHARLESTON, W.Va. — On Tuesday evening, the Public Service Commission of West Virginia approved Appalachian Power Company’s plan to securitize its assets in order to recover over $2 billion in investments and expenses.

The PSC’s decision will allow the utility to sell bonds and set up a new rate-making method that allows them to collect money from its customers over a longer period of time. This cuts down on the number of surcharges and rate cases.

Just last week, the PSC turned down more than half of Appalachian Power’s request for a $250.5 million base rate increase. The PSC approved just $76.1 million and told the company they would not be able to collect the increase through traditional means.

The PSC also requested that the utility not change customer rates at this time when they m

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