Thursday, April 22, 2010
PSC Issues Power Audit
KENTUCKY....
The state Public Service Commission has issued a management audit of East Kentucky Power Cooperative, saying the 500,000 homes and businesses powered by the utility must band together to change it from the inside for it to stay viable. The cooperative announced Thursday it would seek its third rate increase in the past four years. The management audit states a conflict of interest has existed because East Kentucky Power is governed by member co-ops who are devoted to keeping prices low and weren't willing to seek higher rates when East Kentucky needed the money to secure its finances.
The state Public Service Commission has issued a management audit of East Kentucky Power Cooperative, saying the 500,000 homes and businesses powered by the utility must band together to change it from the inside for it to stay viable. The cooperative announced Thursday it would seek its third rate increase in the past four years. The management audit states a conflict of interest has existed because East Kentucky Power is governed by member co-ops who are devoted to keeping prices low and weren't willing to seek higher rates when East Kentucky needed the money to secure its finances.
# posted by Homer Owens @ 9:35 PM 
