Rocky Mountain Power files 2024 Utah rate proposal

SALT LAKE CITY — Increased costs of fuel and wholesale power, together with investments in new electric transmission and generation projects that are being built to serve Utah customers, are driving a general rate increase request filed today with the Utah Public Service Commission. In addition, increasing insurance premiums related to rising wildfire risks are also contributing significantly to the proposed increase.

The request would result in an average overall customer increase of 2.31 cents per kilowatt hour and an average residential increase of 3.35 cents per kilowatt hour.

"We take our obligation to deliver safe, reliable and affordable energy seriously. We work hard to provide reliable service, make critical investments in much needed new energy infrastructure and keep rates affordable for customers. That work is reflected in quality service at rates that are below national averages," said Dick Garlish, Rocky Mountain Power President. "Like many businesses in these difficult economic conditions, the utility is facing inflationary pressures and increased costs outside of its control that cannot be offset through hard work and business discipline alone, making it necessary to seek a rate increase at this time.”

Significant capital investments in this request include the Gateway South transmission project and renewable generating resources, such as the Rock Creek wind project.

To ease the effects of these increased costs on customer bills, the company is proposing a phased in approach through a two-step rate change. Step 1 would become effective on February 23, 2025, and Step 2 would become effective on January 1, 2026. 

Proposed Increase

The average monthly increase for residential customers is $13.87 for step 1 (effective February 23, 2025) and $10.27 for step 2 (effective January 1, 2026).

This rate increase, and its drivers, underscore the significant challenges currently facing Rocky Mountain Power and other utilities in the West, and we want to be clear and transparent about the current financial environment, what we’re doing to navigate it and how we remain committed to delivering reliable and low-cost service for our customers.

“Rocky Mountain Power does not take this request lightly, and we are committed to continuing our efforts to provide reliable service, reduce impacts to customer bills and make much needed investments in energy infrastructure, which is the backbone of economic development in Utah,” said Garlish.

Rocky Mountain Power offers a variety of ways to budget for energy expenses, including time of use and equal pay billing options. Bill payment assistance programs, energy efficiency tools, rebates and incentives and other resources for homes are also available. Customers can call 1-888-221-7070 to learn more.