FRANKFORT — Kentucky Power customers will see a familiar line item return to their bills for November only as the company refunds nearly $26,000.
The Asset Transfer Rider (ATR) will appear as a one-time credit, not as a charge. The Kentucky Public Service Commission had authorized Kentucky Power to use the rider to collect a total of $66 million from customers as part of the company’s acquisition of a 50 percent interest in the Mitchell Power Plant in Moundsville, W.Va.
Kentucky Power had stopped collecting the rider for the October billing cycle. However, Kentucky Power determined that it had over-collected about $6,000 from residential customers and about $19,900 from non-residential customers. The average refund will be about five cents on average for residential customers using about 1,402 kilowatt hours per month. Customers with minimal monthly usage may not see the ATR on their bills.
“We continue to be open and transparent with our customers,” said Greg Pauley, Kentucky Power’s president and chief operating officer. “This credit illustrates how we are committed to doing right by our customers by collecting only what is authorized.”
Kentucky Power, with headquarters in Frankfort, Ky., provides service to approximately 170,000 customers in all or part of 20 eastern Kentucky counties. It is a unit of the American Electric Power system, one of the largest electric utilities in the United States, delivering electricity to nearly 5.4 million customers in 11 states. AEP ranks among the nation’s largest generators of electricity, owning nearly 32,000 megawatts of generating capacity in the U.S. AEP also owns the nation’s largest electricity transmission system, a more than 40,000-mile network that includes more 765-kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP’s transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas.