TRA Approves Kingsport Power Company Settlement Agreement
Nashville, Tennessee – (August 9, 2016) The Tennessee Regulatory Authority (TRA) approved a settlement agreement today between Kingsport Power Company, 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.
On January 4th of this year, Kingsport Power Company filed a request with the TRA seeking approval of approximately $12.1 million rate increase. The approved settlement agreement authorizes a rate increase of approximately $8.6 million annually. Residential rates in the Kingsport Power Company service area will increase by 4.23 percent monthly.
"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," said David F. Jones, TRA Chairman.
TRA officials conducted open community hearings in Kingsport for the general public to receive comment from citizens on Kingsport Power Company’s request. The public hearings were held March 30th and 31st at the Kingsport Center for Higher Education at Northeast State Community College.
The mission of the TRA is to promote the public interest by balancing the interests of utility consumers and providers. For more information about the TRA, visit www.tn.gov/tra.
Contact: Chairman David F. Jones (615)741-3668 ---- Greg Mitchell, Media (615)770-6883