LITTLE ROCK, Ark. — On Thursday, the Arkansas Public Service Commission (APSC) approved new rates provided by Summit Utilities.
As for what the APSC order actually entails, here's a look: customers will see rates increase by 23%, which based on the average residential bill, is an additional $15 per month. The order reduces winter gas costs by 17% for residential customers. Additionally, it's important to know that these new rates are expected to take effect this December.
The APSC shared that a second and smaller hike is expected to arrive sometime in March of 2025.
Summit Utilities was allowed to propose a rate increase 2 years after taking over Centerpoint Energy.
The new Summit Utilities rates were accepted after the APSC approved a settlement agreement which worked to set these new rates for Arkansas customers of Summit Utilities. This agreement follows Summit Utilities' $300 million investment to upgrade infrastructure, boost safety, promote job growth, and support business needs in Arkansas.
Following the approval of the new rates, Arkansas AG Tim Griffin celebrated the result and thanked the APSC for "listening" to concerns.
“As we hoped, we were able to secure a better result, and I appreciate the Public Service Commission listening to our concerns and altering Summit’s proposed settlement, resulting in an outcome more favorable to Arkansas ratepayers,” AG Griffin said.
To read the APSC order in its entirety, you can click here.