Heath E. Combs
\nRICHMOND, Va. \u00e2\u20ac\u201d Executives from four southwest Virginia furniture companies appealed to the State Corporation
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\nCommission here last week for a break from a recent Appalachian Power rate hike.<\/p>\n
The rate increase will add about $198 million to Appalachian Power revenues. A spokesman for the company, John E. Shepelwich, said the rate hike is the first in the Virginia territory since 1993, excluding annual adjustments to fuel charges, which generate no profit for the utility.<\/p>\n
Appalachian Power filed for the increase in May and instituted it Oct. 2, pending the Corporation Commission\u00e2\u20ac\u2122s findings in the hearing. In Virginia, rate increases can be implemented on an interim basis prior to their approval.<\/p>\n
\u00e2\u20ac\u0153We \u00e2\u20ac\u00a6 understand the rising cost of doing business. That\u00e2\u20ac\u2122s the only reason we\u00e2\u20ac\u2122re asking for a rate increase this time, because indeed our costs have gone up dramatically,\u00e2\u20ac\u009d Shepelwich said.<\/p>\n
The rate hike would tack on about $120,000 more for Vaughan Furniture in 2014\u00e2\u20ac\u2122s bill, according to Taylor Vaughan, senior executive vice president and one of the executives who spoke to the commission.<\/p>\n
Vaughan said the furniture executives would want the rate increase eliminated or substantially reduced. Over the last several years, the company has reduced its production from four plants with 1,500 employees, to one plant with 370 employees.\u00c2\u00a0<\/p>\n
\u00e2\u20ac\u0153With what the industry is going through, with costs are going up, to have a 25% increase in any sector of cost (is harmful). It\u00e2\u20ac\u2122s not an item we can just decide we\u00e2\u20ac\u2122re not going to use,\u00e2\u20ac\u009d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Heath E. Combs RICHMOND, Va. \u00e2\u20ac\u201d Executives from four southwest Virginia furniture companies appealed to the State Corporation<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-2892","post","type-post","status-publish","format-standard","hentry","category-furniture-world-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/2892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/comments?post=2892"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/2892\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=2892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=2892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=2892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}