Attorney General Kris Mayes has been granted permission by the Arizona Corporation Commission to intervene in a case against Tucson Electric Power (TEP), which is seeking to hike residential electricity rates by nearly 14%. In a move intended to shield consumers from the escalating cost of living and soaring utility bills, Mayes labeled the initiative as a clear act of "blatant corporate greed" in her official statement, highlighting the $1.6 billion in net earnings reported by TEP's parent company last year.
The proposed TEP rate increase would result in Tucson customers paying an additional $19.43 per month, following previous hikes of 10% in 2023 and 6% in 2021, a series of rate increases that have sent bills climbing almost as quickly in three years as they did over two decades preceding, as per reporting by the Arizona Daily Star.
If approved, this increase would bolster TEP's revenue by $172 million each year, at the expense of households and local businesses within the Tucson metropolitan area, which comprises over 452,000 TEP consumers. Despite the heavy financial burden this would impose on consumers, TEP justifies the proposed rate adjustment, citing escalating operating costs and conflict with Fortis Inc.'s hefty earnings report for the previous year.
In a determined effort to prevent utility monopolization from exploiting customers, Mayes, who had previously served on the Arizona Corporation Commission, has also taken a stand against a proposed rate hike by APS, applying her position to protect Arizonans from undue financial strain. The Corporation Commission order permitting Mayes' intervention can be found here, as reported by the Arizona Attorney General's office.
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