Paducah Power is costing its customers thousands of dollars.
If Paducah Power is truly "Owned By The People of Paducah" their board has put each of us in debt in excess of $20,000 while charging the highest electrical rates in our area.
One reason PPS stated for leaving TVA was their being "heavily" in debt. TVA debt is about $3,000 per customer.
Their decision to form KMPA and become a power producer by investing in the Prairie State Power Plant will cost the people of Paducah for many years to come in increased electrical costs and diminished real estate value because of it. The board has refused to admit that it was a poor decision to invest in a power plant in Illinois. The plant went more than $2 billion over budget and has no incentive to operate efficiently because all its power is pre-sold at whatever it costs to produce.
We should join the other investor communities that are seeking an investigation from the Securities & Exchange Commission. The Paducah Power Board was sold a terrible deal with false promises and claims.
We operate lumber yards in six different counties in western Kentucky. In February our kilowatt rate in Paducah was 30 percent higher than the closest non-KMPA member and 65 percent higher than our cheapest rate. My personal power bill from PPS increased by 42.6 percent per kilowatt in February 2014 versus February 2013.
When buying or building a new home or business in McCracken County in the future, who the electrical provider is will be a determining factor. Paying 30 percent more for electricity will affect the price that a home or commercial building is worth.
Because of the extreme cost overruns of the Illinois-based Prairie State plant and its poor performance, the residents of Paducah and McCracken County are going to continue to pay dearly for the decisions of the Paducah Power board for many years to come.
I think it is time for new management at Paducah Power and the mayor needs to appoint a board member with power "generating" experience. There are plenty of qualified candidates who worked at and managed one of TVA's most efficient coal-fired steam plants, Shawnee Fossil Plant in West Paducah.