Rate adjustment approved for Cumberland Valley Electric

FRANKFORT, Ky. (AP) — The Kentucky Public Service Commission has approved a rate adjustment for Cumberland Valley Electric in southeastern Kentucky.

The PSC says the electric distribution cooperative will be allowed to increase annual revenue by about $968,000. That’s 60 percent of the $1.6 million increase requested by Cumberland Valley.

Cumberland Valley says it needed to increase rates in order to meet the requirements imposed by its lenders and cover increased operating expenses.

Residential customers will see the increase in their monthly customer charge, which will rise to $8.73 from $5.74. For a typical customer, the total monthly bill will increase by about 2.9 percent.

Cumberland Valley has about 23,700 customers in Bell, Clay, Harlan, Knox, Laurel, Leslie, Letcher, McCreary and Whitley counties.

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