Kentucky Power Co. is asking regulators to extend a program that gives Kentucky Power some flexibility in three of its tariffs to offer special contracts with coal companies and coal processing businesses.
The American Electric Power Co. Inc. subsidiary said Oct. 15 that it plans to file an application with the Kentucky Public Service Commission to extend the Coal Plus Program. The program was first approved in 2017 and is set to expire at the end of 2019; the proposal aims for an extension through Dec. 29, 2020.
Under Coal Plus, companies that agree to operate under an interruptible rate, for example, receive a discount, Kentucky Power said in the news release. Several companies have taken advantage of the program or expressed interest, it added.
"Coal Plus is helping to spur economic development and revitalize our communities," Kentucky Power President Brett Mattison said. "By renewing Coal Plus, Kentucky Power can continue to give coal companies greater short-term flexibility to take advantage of different rates."