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    Home»Stock Market»Arkansas regulators want more answers about Summit Utilities big rate hike request
    Stock Market

    Arkansas regulators want more answers about Summit Utilities big rate hike request

    October 29, 20241 Min Read


     

     

    Reports by Arkansas Business and the Arkansas Democrat-Gazette show state regulators reopened the nearly $88 million rate hike proposed by Summit Utilities.

    It means the Public Service Commission will continue searching for information from Summit and its attempt to increase rates by an average of another $15.43 a month or 23% on residential bills.

    State legislators remain highly critical of the request and during a hearing on Monday, asked the Commission to carry out an investigative report. They also questioned whether Summit conducted due diligence in its acquisition of natural gas assets two years ago.

    Two legislators made claims that Summit acquired assets that needed repair and now want ratepayers to fund the decision.

    So far, Summit, with more than 90,000 customers in Oklahoma, has yet to file for a similar high rate hike in the state.

     

     



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