FRANKFORT, Ky. (WMDJ) — Kentucky Power is asking state regulators for permission to delay part of a sharp winter fuel increase in order to lower March electric bills for customers.
The company says extreme cold in late January drove up natural gas and market energy prices across the region. That increase would normally cause the fuel adjustment charge on March bills to rise significantly.
Kentucky Power is asking the Public Service Commission to postpone collecting $5 million of those January fuel costs and instead spread the amount evenly across May, June and July bills.
If approved, the average residential customer using 1,300 kilowatt hours would see their March bill drop from about $250 to roughly $239, a difference of about $11.
Without the change, the fuel adjustment charge would increase from $0.00763 to $0.02981 per kilowatt hour. The proposal would lower that March rate to $0.02200.
The utility has asked the PSC to make a decision by Feb. 23 so the change can take effect before the March billing cycle begins Feb. 24.
To see the copy of Kentucky Powers request to the PSC, click here
