FRANKFORT, Ky. — Fresh off of receiving approval to raise rates, Kentucky Power is asking state regulators to reconsider parts of their decision, warning the current order could hurt the utility’s finances and reliability.

On Feb. 28, the Kentucky Public Service Commission granted a rate increase that would generate an additional $55 million a year for Kentucky Power, after the company had requested $77 million. But in a motion filed Friday, the company says several rulings in the order prevent it from fully recovering its costs.

Among the biggest concerns is how regulators handled vegetation management. Kentucky Power says changes to how tree-trimming costs are treated could reduce reliability work and leave about $17 million dollars in expenses unrecovered.

Also at issue is the PSC’s decision to disallow $7.2 million in “other” employee compensation. Kentucky Power says “other” compensation includes sick time, vacation time, personal days and family medical leave, which the company says are “fundamentally a part of employee compensation.”

The company is also challenging cuts to all incentive pay, limits on recovering transmission costs, and reductions in how much it can collect for the cost of the rate case itself.

Kentucky Power argues those changes could leave it earning well below its approved rate of return and may force it to file another rate case.

The utility is asking the commission to grant a rehearing and make adjustments that would protect its financial health while keeping customer rate impacts largely the same.

A copy of the motion follows: