FRANKFORT, Ky. — In what has become a familiar refrain, Kentucky Power is once again asking regulators to approve a rate increase.
The utility is seeking to increase revenues by more than 13 percent in the latest filing. However, much of the burden for that increase would fall onto residential customers, who would see their rates climb by more than 18 percent.
Under the proposed rates, the average residential power bill would increase by $35.
In a statement on the company’s website, Kentucky Power says a number of factors made a rate increase necessary.
“Since Kentucky Power’s last rate review in 2020, our service area has experienced several significant natural events, including a devastating windstorm, an ice storm and historic flooding,” the statement says. “We have also seen a notable population decline in our service territory and the loss of several large commercial and industrial customers. These events make it harder to spread out our fixed costs, which can lead to higher bills for customers.”
If approved, the new rates would go into effect after Jan. 1.
You can read more from Kentucky Power about the rate request at https://www.kentuckypower.com/company/about/rates/. A copy of the notice giving the full proposed rates can be found at https://www.kentuckypower.com/lib/docs/ratesandtariffs/Kentucky/PSC_Notice_061623.pdf.
