Public Service Commission
PSC GRANTS RATE ADJUSTMENT TO MEADE COUNTY RECC - Rural cooperative receives slightly less than requested
The Kentucky Public Service Commission (PSC) has granted a rate increase to Meade County Rural Electric Cooperative Corp. (Meade RECC) that will increase the cooperative annual revenue by $1.9 million, or about 7 percent.
Meade’s original request was about $50,000 more than the amount granted by the PSC.
The rate increase will allow Meade RECC to stay within financial guidelines established by the Rural Utilities Service, the federal agency that provides financing to electric cooperatives.
Residential customers will see their monthly customer charge increase from $8 to $9.85. The charge per kilowatt-hour of electricity (the amount used by a 100-watt light bulb in 10 hours) will increase from 5.6 cents to 6 cents.
For a residential customer using 1,000 kilowatt-hours of electricity per month, the total bill will rise by $5.67, from $64.19 to $69.86. That is an increase of about 9 percent.
The new rates take effect Monday.
Meade RECC has 26,900 customers in Meade, Breckinridge, Grayson, Hancock, Hardin and Ohio counties. It purchases power from Big Rivers Electric Corp.
The order in the case and other documents are available on the PSC Web site, psc.ky.gov. The case number is 2006-00500.
The PSC is an independent agency attached for administrative purposes to the Department of Public Protection in the Environmental and Public Protection Cabinet. It regulates more than 1,500 gas, water, sewer, electric and telecommunication utilities operating in the Commonwealth of Kentucky and has approximately 110 employees.