FRANKFORT, Ky. (AP) - Jackson Energy Cooperative Corp., which serves more than 50,000 customers in eastern and central Kentucky, has won approval for a rate increase that will occur during the next 18 months.
The Kentucky Public Service Commission on Thursday approved the co-op's proposal to increase annual revenue by $4.11 million, or about 4.6 percent. The PSC said the increase is necessary to turn around a decline in Jackson Energy's financial condition.
The PSC said in a news release the monthly customer charge will increase three times beginning next month.
Residential customers' monthly customer charge, currently $10.44, will reach $16.44 in September 2015.
The utility's customers are in Breathitt, Clay, Estill, Garrard, Jackson, Laurel, Lee, Leslie, Madison, Owsley, Powell, Pulaski, Rockcastle and Wolfe counties.
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