Liberty Utilities plans to lower customers’ monthly bills
BOYD COUNTY, Ky. (WSAZ) - AEP announced in October it plans to sell its Kentucky operations, including Kentucky Power, for $2.846 billion after the sale is approved by regulators.
Liberty Utilities is a subsidiary of Algonquin Power & Utilities. Pending approval from the Public Service Commission, Liberty will become the region’s electric utility provider.
David Swain, the Integration Leader for the Kentucky Acquisition of Liberty Utilities, said that customer rates should decrease for two reasons.
Liberty will create the Eastern Kentucky Fuel Relief Fund, which is a $40 million fund to help offset volatile fuel rates. Secondly, Liberty is providing a “rate holiday” on the collection of the Big Sandy decommissioning rider for three years. These two initiatives, he said, could lead to a 14-16% reduction in residential customer rates. Liberty has committed to honoring the current rate freeze in place through 2023.
Kenneth Castle is a Kentucky Power customer who looks forward to the extra savings.
“My bill has been steadily growing. When we moved in here approximately two years ago, it ran about $148 a month. Now, it’s up to $228 a month,” Castle said.
Swain further explained the company plans to add a call center in Eastern Kentucky so customers may connect with someone in the area when they have a problem.
The company is currently hiring for nearly 100 positions.
Liberty’s North American distribution operations include Arizona, Arkansas, California, Georgia, Illinois, Iowa, Kansas, Massachusetts, Missouri, New Hampshire, New York, Oklahoma, and Texas in the United States, and New Brunswick in Canada.
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