PSC ALLOWS A MUCH SMALLER PROPORTION RAISE THAN KENTUCKY POWER WAS ASKING FOR
JANUARY 24, 2024 – written by WADE QUEEN
Kentucky Power customers will see an increase in their monthly bill, after the Public Service Commission has issued a ruling for Kentucky Power’s request to increase revenue. On Friday, January 19, the Kentucky Public Service Commission issued an Order approving a partial rate hike in the Kentucky Power rate case (2023-00159).
In a news release sent out by the Public Service Commission, they said the average monthly residential bill would be one-third (1/3) of what was requested.
Officials said Kentucky Power initially proposed an increased revenue rate amounting to $93.9 million. That number reportedly decreased during public hearings by $74.67 million.
The ruling reportedly decreased the agreement during public hearings by an additional $14.63 million, making the customers’ bill increase by 5.66% as opposed to what would have originally been 18.3%.
The Kentucky Public Service Commission approved increasing their monthly bills for the average residential customer by about 5.66%, or the equivalent of a monthly utility bill increasing by $8.32.
In making its decision, the Commission found the proposal’s impact on residential customers to be “excessive and disturbing,” in part as evidenced by the comments in the case indicating customers could not afford further rate increases.
The Public Service Commission’s Order denied Kentucky Power’s request to begin power hedging programs, which were proposed only because of Kentucky Power’s inadequate generation, and the Order also denied a proposal to add a tracker to recover distribution-related expenses between rate cases.
As part of the order, a spokesperson for Kentucky Power said the company’s proposal to move the due date of bills back 6 days, from 15 to 21 days, to allow customers more time to pay once their bills are received each month was approved. The spokesperson believed this would help increase flexibility in payment options.
“Rate cases are not easy, but they don’t divert or distract us from our number one priority of providing safe and reliable power to our customers,” according to a Kentucky Power spokesperson.
The rates approved by the order will appear on the bill issued on or after January 16, 2024, according to the Kentucky Power company.
Yes. January 16. Which happened to be the same day the extremely brutal weather in our area was in full swing with temperature at around or below zero degrees during the sunrise on the morning of January 16.
Have to take care of our shareholders and keep buying our stock buy backs.
Saltriver electric is supposed to be a co-op they haven’t they ask the people of the Co op if they want to raise?
Where is the justification of this raise? Eastern Kentuckians probably pay the highest electric rates in the state yet the public service commission and the representatives senators think we’re still mining coal so they’re attitude is they have plenty of money there let’s raise their utilities. It’s a shame this has taken place.
I think they should be ashamed of themselves. I will tell anybody who listens or not that I for starters can’t afford one penny more that I already pay. Hell, I truthfully can’t afford that. I don’t see where I use that much to be paying this much anyway. I’m sure they will cutting off a lot of people’s electric. Then what if they freeze to death LITERALLY. I PRAY THAT THEY WOULD HAVE TO TAKE THE MEDICINE THEY DOLE OUT IN THE NEAR FUTURE. MAYBE THEY WILL HAVE A DEBILITATING; ARE NOT ABLE TO DO THEIR JOB ANYMORE; ARE FORCED TO LIVE HAND TO MOUTH WITH ALL RESOURCES SPENT. I WOULD LOVE LOVE LOVE TO BE A FLY ON THEIR WALL THEN.🤬🤬🤬
I nearly soiled my britches when I looked at my bill in the KY Power app tonight. Another good reason to leave eastern KY.
I think everyone one on the board of the Kentucky Public Service Commission should be fired. They should have NEVER removed the coal burning plant. Remember AEP said gas was cheaper lol
They sure did.
I am wondering if PSC and how many in Frankfort is getting kick backs from AEP for being allowed to continuously price gouge this area. It is obvious we don’t matter to Frankfort because we don’t swing enough votes to decide state elections. Electricity is suppose to be an affordable utility service. It hasn’t been affordable here for years. the elected officials do not care, they are probably getting a check to allow it. Maybe it time to have a co-op here and get rid of AEP.
I wish the Lazer would pull PSC records and other filings which report the salaries and benefits for Big Sandy RECC. An eyeopener.
My billing history from last October. Mind you, there’s only two of us old people living here, and we supplement half the house with propane gas heat. This rate is ludicrous ‼️.
My pmt last October was $177. November was $280. December was $350. This January it was $475.‼️😡