CHARLESTON, WV (WVNS) -- The Public Service Commission of West Virginia gave permission for Appalachian Power and Wheeling Power to use securitization to lower customer rates.

According to a press release, Appalachian Power and Wheeling Power will be able to "use a process known as securitization to lower customer rates after getting approval from the Public Service Commission (PSC) of West Virginia.

The press release stated that Appalachian Power will be able to "recover approximately $2.4 billion in investments and expenses through consumer rate relief bonds over an extended period of time, as compared to traditional methods, ultimately saving customers money" following the order.

According to the press release, when necessary, the PSC can “employ alternative financing mechanisms,” li

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