Wednesday, December 17, 2014

Rate Increase Possible

Kentucky Power wants the Kentucky Public Service Commission to approve a base rate increase of about 12 percent.

If approved, the utility says residential customers using an average of 1,362 kilowatt hours per month would see their monthly bill increase about 22 dollars.

Officials with the public service commission say the last time Kentucky Power increased its base rate was in 2010.

The rate change would not go into effect right a way. Officials with the PSC say the new rate would be suspended for a number of months while they conduct their review.

Kentucky Power officials say the rate increase would generate about 70 million dollars in revenue.

The company will formally submit their proposal next week.