EYEWITNESS LOCAL NEWSKentucky Power Seeks To Boost Residential Bills By About 31 Percent
from Eyewitness News Online
Reported by: Jeff Morris
Web Producer: Jeff Morris
Reported: Jul. 1, 2013 2:32 PM EDT
Updated: Jul. 1, 2013 3:09 PM EDT
Frankfort, Franklin County , Kentucky
Kentucky Power wants to hike residential customers’ bills by about 31 percent.
The power company said in a news release that it wants the rate hike to recover costs associated with the transfer of 50 percent of the ownership of two power generating units from AEP Ohio’s Mitchell Power Plant near Moundsville to Kentucky Power.
Kentucky Power said the rate increase filing request with the Kentucky Public Service Commission calls for an increase in revenue of $114 million over existing rates.
The company said there are two “mitigation” factors that could lessen the residential impact from about 31 percent to 20 percent.
If approved by the PSC, the company said, the typical residential customer using 1,374 kilowatt hours of electricity per month could see their monthly bill jump from about $120 to about $157. This would be a jump of $37.24 or about 31 percent.
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