FRANKFORT, Ky. (Nov. 20, 2024) – Attorney General Russell Coleman announced a proposed settlement today with Kentucky Power that will deliver financial relief to families and businesses in the winter months. If the settlement agreement is accepted by the Public Service Commission (PSC), Kentucky Power’s residential customers will receive a total credit of $51.19, spread among their monthly bills during the winters of 2025 and 2026.
As a result of the Attorney General’s settlement, Kentucky Power will return a total of $16.9 million to its ratepayers for the improper application of the fuel adjustment clause. As Kentucky Power adjusts its processes, this settlement could also mean future utility savings for Kentuckians.
“This settlement will bring real relief for Kentuckians who are already paying the highest utility rates in the Commonwealth. Our Office is proud to fulfill our responsibility to promote affordable and reliable energy for families who will soon see the savings on their monthly electricity bills,” said Attorney General Coleman.
Kentucky Power, headquartered in Ashland, provides service to approximately 162,000 customers in 20 eastern Kentucky counties.
Executive Director of the Attorney General’s Office of Rate Intervention John Horne and Deputy Executive Director Mike West handled the matter on behalf of the Commonwealth.
Last month, Attorney General Coleman announced a separate settlement with Columbia Gas of Kentucky to lock-in affordable utility rates for two years.
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