AEP gets approval for 12.5 percent hike
By a 2-1 vote, the PSC rejected the proposed contract. Chairman David Armstrong and Commissioner Charles Borders, in their majority decision, noted that the PSC cannot approve a power purchase that is not immediately needed and is more expensive than current power sources, but commended Kentucky Power's interest in renewable energy sources.
June 29, 2010
in Daily Independent
On Monday, the Kentucky Public Service Commission (PSC) approved a settlement granting Kentucky Power Co. (American Electric Power) an annual revenue increase of $63.7 million (12.5 percent), which is about half the amount sought by the utility.
Under the settlement, the average bill for a typical residential customer using 1,430 kilowatt-hours per month (A kilowatt-hour is the amount of electricity used by a 100-watt light bulb in 10 hours.) would rise to more than $134, an increase of about 17 percent from the current average of about $115.
"I'm publicly protesting the 12.5% increase they are imposing on the citizens... [continue via Web link]