Rocky Mountain Power seeks $8.8M rate refund for Utah customers through tariff schedule 98

Rocky Mountain Power is set to refund Utah customers $8.8 million through a proposed adjustment to its renewable energy credits balancing account, as discussed in a virtual hearing on interim rates held on May 13, 2025. The refund, which will take effect on June 1, 2025, represents a significant rate decrease of approximately 0.3% for customers.

During the hearing, Aaron Rose, a revenue requirement manager for Rocky Mountain Power, outlined the details of the refund, which is based on the difference between actual renewable energy credit (REC) revenues and the amounts previously included in customer rates. The company’s calculations indicate a net carrying charge of about $583,000 during the interim period leading up to the refund.

The Division of Public Utilities (DPU) expressed support for the proposed rate change, with analyst Annette Orton confirming that the application complies with Utah code and previous commission orders. The DPU's review concluded that the interim rates would better reflect actual costs, making them reasonable and in the public interest.

This adjustment marks the sixth consecutive year that Rocky Mountain Power has included REC revenue from its agreement with Kennecott Utah Copper, further solidifying the financial framework for renewable energy credits in the state. The commission is expected to finalize its decision following a complete audit of the REC revenues by July 23, 2025.