AEP Kentucky Power held an issues luncheon for community leaders, politicians, and chamber of commerce members in Perry County.
The big question today was when can we expect a rate increase and why?
Energy efficiency was discussed as a way to cope with increased electric costs.
Low electric prices have graced Eastern Kentucky for years, but a rate increase has some people concerned.
"The uncertainty that's occuring in the electric industry is going to impact all of us," said Greg Pauley, the President and COO of Kentucky Power.
AEP Kentucky Power has to follow EPA guidelines in order to be in compliance.
Several people wanted to know when they could expect a rate increase and what they could do better to save energy.
"We can work together to use it more efficiently in order for us all to be winners in this process," said Kentucky Power President Pauley.
Making their customers pay 30% more is not what Kentucky Power wants to do.
"That looks like it could be anywhere from a 4.5 year period of time before that takes place, so nothing would happen before that time," said Kentucky Power President Pauley.
Some people say Kentucky needs to prepare for higher rates because it is going to happen.
"The cost of our product is not going to go down," said Kentucky Power President Pauley.
"Other places that have had to deal with rising rates have made improvements. Whereas, we still have a lot of improvements that we can make," said Joshua Bills, an energy specialist in Berea.
Kentucky Power retirees say they believe the company is moving in the right direction with a clear focus on energy efficiency.
An energy specialist told me some companies provide finances to improve the energy efficiency in homes, which can significantly reduce electric bills.
This topic was mentioned during the Q & A session.
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