East Kentucky electric rates change, resident costs may drop

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Courtesy KY Power

FRANKFORT, Ky. (AP) – A Kentucky Power Co. rate increase coupled with a surcharge elimination may leave Eastern Kentucky residents with some extra cash in the coming months.

News outlets report the state Public Service Commission approved a 4 percent rate increase Thursday while considering the power company’s programs that encourage less energy use.

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The Commission says those programs will eliminate an almost $11 average surcharge on monthly bills and replace it with an almost $1.50 credit, dropping the average monthly bill by 4 percent.

Kentucky Power originally requested a more than $10 million base rates increase. But the Commission says it instead approved a little less than $13 million increase to account for a recent reduction in the corporate tax that utilities must pay.

 



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1/19/2018 1:00:01 PM (GMT -5:00)