FRANKFORT, Ky. – State Rep. Chris Harris pre-filed two pieces of legislation today that seek to halt the continued escalation of electrical rates for Eastern Kentucky customers of Kentucky Power.
Bill Request 114 requests the Kentucky Public Service Commission (PSC) to reconsider its approval of more than $100 million in rate increases and more than $68 million in riders not counted in base rates.
Bill Request 115 would expand the PSC’s supervisory control over utility matters as necessary to protect and promote the public interest. The bill also requires the PSC to rehear utility rate cases in circumstances where an out-of-state public utility fails to approve a multi-state transaction or imposes any new conditions that are materially different than those imposed by the Kentucky commission’s order.
“In light of Kentucky Power’s continued attempts to raise rates on the people of Eastern Kentucky, with yet another request to the PSC for a 16 percent rate hike, the time for legislative action is past due,” Rep. Harris said. “I filed similar legislation during the 2017 session, and will continue to press this issue until we find relief for our people.
Why are we being asked to dig deeper and deeper into our pockets as Kentucky Power’s profits continue to soar?”
Rep. Harris noted that the stock price for American Electric Power (AEP), Kentucky Power’s parent company, has doubled over the past five years, with dividends increasing for its stockholders each year. He added that while BR 114 and BR 115 seek to address previous rate increases and riders made by Kentucky Power, he is also researching legislation that would thwart AEP’s most recent attempt to raise rates on Eastern Kentuckians.
While the legislation won’t be considered until the 2018 session of the Kentucky General Assembly in January, filing the bills now serves as notice to Kentucky Power, AEP, and the PSC that resistance to the rate hikes continues to grow in strength, Rep. Harris said.
Rep. Harris’s bills are co-sponsored by state Rep. Angie Hatton, who represents the 94th House District in Letcher and Pike counties.
“…Our region is facing extraordinary pressure as we work to diversify our economy, keep our families whole and attract new businesses to our communities,” Rep. Hatton said. “For us to succeed, Kentucky Power must stop their continued assault on our electrical rates. AEP’s profits are coming at the expense of our people, and I am proud to join Rep. Harris in this effort to hold them accountable for the significant collateral damage they are creating.”
The resolution and bill were also co-sponsored by House Democratic Leader Rocky Adkins of Morehead; state Rep. Kevin Sinnette of Ashland; and state Rep. Rick Nelson of Middlesboro.
A full description of both bills can be found at www.lrc.ky.gov/record/18RS/prefiled/prefiled.htm.
Rep. Harris represents the state’s 93rd House District in Pike and Martin counties.
