Kingsport Power Company’s rate increase approved by the Tennessee Regulatory Authority

A request filed by the Kingsport Power Company for a rate increase of approximately $12.1 million was recently approved by the Tennessee Regulatory Authority (TRA).

The settlement between the Kingsport Power Company and the Consumer Protection and Advocate Division of the Office of the Attorney General of the State of Tennessee, the Alliance for Solar Choice, the Tennessee Solar Energy Industries Association, the Energy Freedom Coalition of America, and East Tennessee Energy Consumers, closes a case that was begun on January 4 with the Kingsport Power Company’s initial request for the rate increase.

“Upon review of the settlement agreement, the rates appear just and reasonable and should allow Kingsport Power Company to continue offering safe and reliable power,” TRA Chairman David F. Jones said.

The approved rate increase for residential customers in the Kingsport Power Company’s service area will amount to 4.23 percent monthly, with an increase of approximately $8.6 million annually.

Following the submission of the Kingsport Power Company’s request, the TRA conducted open community hearings in order to collect feedback from citizens and customers in Kingsport. The hearings took place at the Kingsport Center for Higher Education at Northeast State Community College on March 30 and March 31.