A Time of Transition
In October 2021, American Electric Power (AEP) announced that it would sell Kentucky Power to Liberty. Since that time, both companies have shared their plans to transition customers to Liberty with state officials.
AEP has signed an amended agreement on the sale of its Kentucky operations to Liberty and expects to close on the sale in January 2023 following approval of the transaction from the Federal Energy Regulatory Commission (FERC), which is due by Dec. 16.
The Kentucky Public Service Commission (PSC) issued its order approving the transaction on May 4, 2022. This was an important milestone affirming that Liberty's ownership of Kentucky Power is the best path forward for customers, communities and employees.
Electric rates will NOT increase. In fact, the transition plan proposed by Liberty and AEP will reduce customer bills through a series of transition funds and temporary bill credits.
Completing this transaction in the coming months will ensure that customer benefits associated with Liberty's commitments to customers and supporting economic growth in eastern Kentucky are realized.
You can learn more about Liberty, the vision for the future and their plans to grow in Kentucky at www.libertykentuckypower.com.