West Virginia regulators approve gas rate increase

AP News
Posted: Nov 20, 2009 6:31 PM

West Virginia's Public Service Commission has approved a 5 percent rate increase for Hope Gas Inc.

The $8.78 million increase approved Friday is substantially smaller than the $34.4 million increase the utility had requested.

The company, which has not received a rate increase since 2005, said it needed more money to cover non-gas operations and expenses, taxes, interest on customer deposits, dividend payments and interest on debt.