Little Rock, Arkansas – The Arkansas Public Service Commission (APSC) has approved new rates for Summit Utility consumers, therefore changing gas bills in a way that would impact homes all over Arkansas. Announced on Thursday, the ruling is a part of a settlement deal including customer concerns and infrastructure improvements.
Starting this December, rates will rise 23% for consumers. This corresponds to extra $15 a month for the typical home user. Although many budgets would find this increase difficult, the APSC has also included a 17% cut in winter gas prices for domestic consumers to help to somewhat offset the expense during colder months.
Since Summit Utilities purchased CenterPoint Energy two years ago, the rate hike is the first significant change. Summit Utilities promised under the conditions of the settlement to improve infrastructure safety and dependability, with a $300 million investment meant to assist corporate expansion and job creation in Arkansas. Summit argues that these developments are necessary to satisfy the changing state energy consumption.
Looking ahead, the APSC has said that a second, minor increase in March 2025 will probably foreshadow more changes to consumer costs as Summit keeps its operational improvements under way. The commission’s larger plan calls for this gradual approach to strike a balance between utility enhancements and the financial reality Arkansans experience.
Praising the APSC for addressing public concerns, Arkansas Attorney General Tim Griffin expressed cautious optimism regarding the result.
“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.
The rate hike comes at a time when inflation and cost-of-living increases are already straining household budgets. Opponents of the decision contend that low-income households may suffer disproportionately even with winter cost cuts overall. Advocates, however, highlight the long-term advantages of a safer, more dependable gas infrastructure as well as the financial prospects connected to Summit’s expenditures.
Credit: Unsplash
While keeping an eye on Summit Utilities’ performance in fulfilling on its promises of enhanced service and community investment, Arkansas residents have begun to prepare for adjustments in their utility prices. Summit and the APSC will continue to be under close examination to make sure their activities represent the demands of the state’s ratepayers as the next climb looms ahead.
To read the APSC order in its entirety, you can click here.
