Even though Paducah Power System customers won’t see benefits of the company’s new financial plan until this summer, General Manager Mark Crissonsays he’s currently trying to cut costs and provide free tools for customers.
PPS customer bills have skyrocketed due to high debt obligations and an underperforming power plant.
The company's budget is running three million dollars in debt.
Crisson says while bigger savings will come in July, PPS ratepayers can expect to pay five to ten percent less for energy this winter compared to last.
“On the one hand, we do want to provide rate relief but we don’t want to do it in an imprudent, irresponsible way that might undermine our credit rating. So, we’re kind of walking a fine line here," Crisson said.
This summer’s plan aims to bring the PCA down from more than 2 cents per kilowatt hour to about half a cent. That will translate to roughly another ten percent rate cut for customers.
Crisson says the situation isn’t permanent and the PPS will continue to look for more ways to reduce costs.
In the meantime, the provider plans to offer energy efficiency tools to its customers this winter season. PPS ratepayer are suffering from some of the highest electric bills in the state. Crisson says he aims to alleviate that a bit over the holidays.
“We’re in the process of developing a comprehensive home energy audit program," Crisson said.
"Typically these audits -depending on your home- cost anywhere from $250-$550. We want to offer these for free.”
Crisson says the PPS will also cover the first $100 for recommended efficiency items that customers purchase after audits. This includes things like insulation or new windows.
