In the hole | Arkansas Blog

Wednesday, September 2, 2009

In the hole

Posted By on Wed, Sep 2, 2009 at 3:58 PM

SWEPCO is asking for a 20 percent rate increase in Texas, partly to help pay for the Turk Plant being built in Hempstead County, Arkansas. According to the East Texas Review:

The company is also seeking to offset financing costs during construction of the 600-megawatt John W. Turk, Jr. Power Plant and the 500-megawatt J. Lamar Stall unit. The Public Utility Commission of Texas approved construction of the Stall plant in March 2007, and on the Turk facility in July 2008...

“Recovery of financing costs while the plants are under construction, instead of at the end of construction, will help prevent compounding interest on these major investments,” [SWEPCO President and Chief Operating Officer Paul] Chodak said. “This will save over $300 million in financing costs that SWEPCO customers would otherwise have to pay over the life of the plant.”

Pay now or pay later.  Read more at Shale Watch.

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