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May 28, 2011MARYVILLE, MO | By: Wayman
A meeting this morning by state regulators has lessened the shock of a 21% rate hike for northwest Missouri customers of Kansas City Power and Light.
The Public Service commission had originally ordered that electricity rate increase saying the short-term hike would provide long term stability for customers. After today's meeting, regulators have agreed to phase in the rate hike this year and for the next two years. So instead of an immediate jump of an extra $16.75 on your KCP&L bill, it will now be about $11 a month extra with increases coming over the next two years. The Public Service commissioner Kevin Gunn tells us the regulators realize the economic situation customers are in and says this compromise will avoid what he calls a "Rate Shock" to monthly bills. The increase is expected to take effect for KCP&L customers by mid June.