Allegheny Power will hold a public meeting today at Four Points Sheraton in Hagerstown from 6 to 8 p.m. on electric rates for residential customers.
Described in a press release from Allegheny Power as an open house, the meeting will include information about the transition to market-based electric rates for residential customers.
The rate cap on the generation component of residential customer bills will expire Dec. 31, 2008. Because fuel costs and the market price of power increased during the cap period, residential customers could face a significant rate increase under market-based pricing, according to an Allegheny Power release.
Allegheny officials will ask customers for input on how to manage the transition to market-based rates.