Phoenix, Ariz.— At the Arizona Corporation Commission’s (ACC) January 17, 2024, special open meeting, the Commission adopted with a 4-1 vote Commissioner Nick Myers’ verbal amendment, which reduced the rate increase for UNS Electric (UNSE) customers as proposed in the Recommended Opinion and Order (“ROO”).

“I’m grateful the majority of my fellow Commissioners voted in favor of my verbal amendment to establish a Return on Equity (ROE) of 9.75 percent and a return on the fair value increment (FVI) of 0.00 percent” said Commissioner Myers, “This results in an overall lower revenue requirement than in the ROO.”

In UNSE’s initial rate case application, filed in November 2022, the Company requested a ROE of 10.25 percent and a return on the FVI of 0.69 percent, resulting in an estimated bill increase of $18.52 (14.2%) for the typical UNSE residential customer of average monthly consumption.

“Although the Commission has yet to confirm the final calculations, I was pleased to see UNSE announce in its press release that the average monthly bills of typical residential customers on UNSE’s Basic pricing plan are expected to increase by only $13.68,” said Commissioner Myers, “This rate increase is the first since 2016 and I believe properly balances the Commission’s constitutional duty to establish just and reasonable rates that protect both the customer and the reliability of the electric grid.”  

For more information about this amendment, please contact Amanda Hasty at myers-web@azcc.gov.