Rocky Mountain Power presents case for 30% rate hike

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SALT LAKE CITY — Rocky Mountain Power presented its case for a 30% rate hike before lawmakers.

The company said the rate hike would increase power bills by about $24 a month on average for residential customers.

If approved, the first rate hike would happen in late February, when the average price increase would be close to $14.

The next hike would happen at the start of 2026 when the average cost would jump about $10.

Rocky Mountain Power President Dick Garlish told a legislative committee that the main driver to increase rates is “transmission and generation.”

“[They are] investments that are being built to serve and have benefits to Utah customers,” Garlish said. 

He added that inflation is also a factor in requesting the rate hike.

“The proposed rate increase from Rocky Mountain Power would be laughable if it wasn’t so dangerous. The proposal is completely unacceptable. The audacity and lack of awareness with this request seriously calls into question management at RMP. I will do everything I can to make…

— Utah Gov. Spencer J. Cox (@GovCox) June 30, 2024

 

According to Rocky Mountain Power’s website, the average monthly power bill for residential customers in Utah is just over $115 a month.

He said this decision wasn’t investor-driven, as they aren’t guaranteed a return on investment.

Ultimately, the rate hike approval will be up to the Utah Public Service Commission.

Garlish said the request is the first step, not the final result.

“We have the obligation and the burden of proof to go before the Public Service Commission and show that the money we spent to provide service and the investment we made were prudent and prudent and in the interest of the citizens of Utah,” Garlish said.  

The company will report back to lawmakers in November.

Related: 

Rocky Mountain Power seeks to increase Utah rates 30% by 2026