Kentucky Power Company
Kentucky Power Company is a regulated electric utility operating within the American Electric Power system, generating, transmitting, and distributing electricity to approximately 162,000 residential, commercial, and industrial customers across 20 eastern Kentucky counties via PSC-approved rates and coal-fired baseload generation.
- Company typePrivate
- Founded1996
- HeadquartersFrankfort, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Kentucky Power Company does
Kentucky Power Company is a regulated electric utility operating company within the American Electric Power (AEP) system, headquartered in Ashland, Kentucky. The company generates, purchases, transmits, distributes, and sells electricity to approximately 162,000 residential, commercial, and industrial customers across 20 eastern Kentucky counties (Boyd, Breathitt, Carter, Clay, Elliott, Floyd, Greenup, Johnson, Knott, Lawrence, Leslie, Letcher, Lewis, Magoffin, Martin, Morgan, Owsley, Perry, Pike, and Rowan). Kentucky Power operates a distribution network supported by approximately 780 MW of jointly-owned coal-fired baseload generation at the Mitchell Plant (shared with Wheeling Power), and serves customers through seven operations locations across the service territory with approximately 400 employees.
The company generates revenue through PSC-regulated electricity sales under standard tariff structures, with rates set through Kentucky Public Service Commission rate cases. The average monthly residential bill stood at $194.13 following a recent 5.87% rate increase, and the product portfolio extends beyond kWh delivery to include energy efficiency programs (EnergyAdvantage at Home, EnergyAdvantage for Business, Targeted Energy Efficiency), payment assistance initiatives (HEART, THAW, AMP), renewable options (Green Energy Partnership), and the Kentucky Power Economic Growth Grant (K-PEGG) economic development program. Infrastructure modernization includes a rolling smart meter deployment, the $95.5 million Mitchell Plant cooling tower project (targeted for 2029 completion, partially offset by a $51 million U.S. DOE grant), and transmission upgrades including the Prestonsburg-Thelma 14-mile rebuild to 69-kV standards approved in April 2026.
Kentucky Power's go-to-market motion is structurally defined by its regulated monopoly status: it acquires customers through PSC-granted exclusive service territory rights and pursues economic development partnerships (K-PEGG, SOAR, One East Kentucky, Ashland Alliance) to attract industrial and large-load customers such as the transformative TeraWulf Muskie Data Campus partnership, which will require over 1 GW of capacity by 2030.
Kentucky Power Company firmographics
Firmographics- Name
- Kentucky Power Company
- Legal name
- Kentucky Power Company
- Website
- https://kentuckypower.com
- Company type
- Private
- Founded year
- 1996
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Kentucky Power Company is a regulated electric utility operating within the American Electric Power system, generating, transmitting, and distributing electricity to approximately 162,000 residential, commercial, and industrial customers across 20 eastern Kentucky counties via PSC-approved rates and coal-fired baseload generation.
- Ownership category
- akta.pro rank
Kentucky Power Company industry classification
Industry- Product category
- Electric Utility Services
- NAICS
- Electric Power Generation, Transmission and Distribution (2211), Electric Power Transmission, Control, and Distribution (22112), Electric Power Distribution (221122), Electric Bulk Power Transmission and Control (221121)
- SIC
- Electric Services (4911), Electric, Gas & Sanitary Services (4900)
- akta.pro primary industry
- Electric Distribution System Owners (Wires-Only Companies) (EUADABAI)
- akta.pro secondary industries
- Network Upgrades & Capacity Additions (Reconductoring, Rebalancing, Voltage Optimization) (EUAEACAN), Transmission Substations & High-Voltage Switchyards (EUADAAAF), Substations, Transformers & Grid Step-Up Facilities (EHV Substations, GSU Transformers) (EUAMAFAE)
Keywords
Where Kentucky Power Company is headquartered
LocationHeadquarters
- HQ city
- Frankfort
- HQ country
- United States
- HQ region
- North America
Offices7 records
Markets served
Kentucky Power Company business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Electricity Sales (Regulated Utility): Kentucky Power generates revenue by selling electricity to approximately 162,000 residential, commercial, and industrial customers across 20 eastern Kentucky counties. Rates are regulated and approved by the Kentucky Public Service Commission. Revenue is driven by kWh consumption across rate classes including residential, commercial, and industrial. Additional revenue streams include connection fees, reconnection fees, and pole attachment fees from third parties.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Standard regulated electricity rates — residential average monthly bill of $194.13 after 5.87% increase |
| Subscription | Monthly | HEART (Home Energy Assistance in Reduced Temperatures) — $115/month for electric heat customers, $58/month for non-electric heat customers, January–April |
| Subscription | Monthly | THAW (Temporary Heating Assistance in Winter) — up to $175 one-time payment for qualified customers experiencing temporary hardship, January–April |
| Subscription | Annual | Average Monthly Payment (AMP) Plan — evens out payments over 12 months to avoid seasonal bill spikes |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
Kentucky Power Company product offering
Product offeringCore offering
Kentucky Power Company generates, transmits, and distributes regulated electricity to approximately 162,000 residential, commercial, and industrial customers across 20 eastern Kentucky counties. The utility operates a share of the coal-fired Mitchell Plant (~780 MW baseload capacity), owns transmission and distribution infrastructure, and complements core electricity service with payment-assistance programs (HEART, THAW, AMP), energy-efficiency offerings (EnergyAdvantage), and economic-development grants (K-PEGG) within its exclusive PSC-regulated service territory.
Product overview
Kentucky Power Company is an electric utility operating company within the American Electric Power (AEP) system, providing electric service to approximately 162,000 customers across 20 eastern Kentucky counties. The company operates as a single unified utility platform offering core electricity distribution services alongside multiple complementary programs. The product portfolio centers on the core electricity service (outage management, billing, account services) supplemented by energy efficiency programs (EnergyAdvantage at Home, EnergyAdvantage for Business, Targeted Energy Efficiency), payment assistance initiatives (HEART, THAW, AMP), renewable energy options (Green Energy Partnership), and economic development programs (K-PEGG). Additionally, the company offers specialized infrastructure services including wildfire mitigation, vegetation management, and data center power infrastructure partnerships.
Differentiator
Problem solved
Functional benefit
Brands
- Kentucky Power Foundation: The Kentucky Power Foundation awards grants within communities served by Kentucky Power. It is part of the American Electric Power Foundation and is funded through shareholder dollars.
- K-PEGG (Kentucky Power Economic Growth Grants)
- EnergyAdvantage at Home
Quantifiable outcome
- 87% reduction in ROW outage minutes since 2010 vegetation management program began
- +7 more outcomes
Companies that use Kentucky Power Company
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Kentucky Power Company technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Kentucky Power Company partnerships and signals
Strategic signalPartnerships
20 partnerships are on record, tiered minor and core.
- Appalachia Reach Out (ARO)minorKentucky Power Foundation awarded $25,000 grant to ARO to support flood victim rebuilding in eastern Kentucky. Kentucky Power employees volunteered to paint and prepare homes being restored. ARO has helped four families return home since receiving the grant.
- American Red Cross Eastern Kentucky ChapterminorKentucky Power partners with the American Red Cross for home fire safety installations, including a $40,000 AEP Foundation grant funding smoke alarm installations in Letcher County. Red Cross canvasses low-income areas with local volunteer fire departments.
- Kentucky Division of ForestryminorKentucky Power hosted a Fall Emergency Management meeting with AEP's Wildfire Mitigation team, Kentucky Division of Forestry, community leaders, and emergency management officials. Topics included wildfire preparedness, fire season trends, burn laws, and safe practices during high-risk periods.
- God's Pantry Food Bank and Facing Hunger Food BankminorKentucky Power partners with regional food banks through the annual Power Up the Pantry food drive. 2025 event collected 2,593 lbs of food and $26,186 in donations (including $25,000 in Kentucky Power Foundation grants). Since 2019, the drive has provided 1.5 million meals.
- River Cities HarvestminorKentucky Power Foundation funded a Ford Transit 150 van for River Cities Harvest's food rescue and redistribution operations across Ashland, replacing an aging vehicle. Kentucky Power employees volunteered on the first week the van was in service, collecting 2,000+ lbs of food.
- TeraWulfcoreKentucky Power is partnering with TeraWulf to build additional electrical infrastructure to support the Muskie Data Campus in northeastern Kentucky — a facility requiring over 1 GW of electricity (equivalent to powering 800,000+ homes). First 500 MW needed by H2 2028, full capacity by 2030. This represents a transformative large-load customer relationship for Kentucky Power.
- The Salvation Army of Northeast KentuckyminorKentucky Power Foundation donated $10,000 to The Salvation Army of Northeast Kentucky for rental assistance funding to prevent homelessness for residents in Boyd, Greenup, and Lawrence counties.
- Hindman Settlement SchoolminorAEP Foundation (recommended by Kentucky Power) awarded $52,500 grant to Hindman Settlement School for agriculture and nutrition education programs in Knott County, addressing food insecurity through home gardens, community gardens, youth education, and farmer's market vouchers.
- SOAR (Shaping Our Appalachian Region)coreSOAR is one of Kentucky Power's key regional economic development partners. K-PEGG grants support SOAR's remote worker attraction program (EKY Remote), operational expenses, economic development summits, and CO.STARTERS entrepreneurship program. 65 workers relocated to 14 eastern Kentucky counties in 2024 through EKY Remote.
- One East KentuckycoreOne East Kentucky is a 9-county regional economic development organization and key Kentucky Power partner. Multiple K-PEGG grants support industrial recruitment, marketing, downtown development, and the EKY Builds Ready-Site program. One East Kentucky pipeline includes 26 companies representing 967 potential jobs and $1.237B in potential investment.
- Kentucky Community Action (CAK)coreKentucky Power partners with area Community Action Kentucky agencies to administer utility payment assistance programs (HEART, THAW, LIHEAP) for income-eligible households. CAK offices process applications on a first-come, first-served basis at locations throughout the service territory.
- Kentucky Association for Economic Development (KAED)minorKentucky Power supports KAED through K-PEGG grants to advance the Kentucky Product Development Initiative (KPDI) and other statewide economic development programs. K-PEGG funds contribute to site consultant evaluations and marketing.
- Ashland AllianceminorAshland Alliance is the economic development organization for Boyd and Greenup counties. K-PEGG grants support EastPark industrial park expansion, AEROready certification, lead generation, and aerospace sector marketing. Ashland Alliance coordinated 18 meetings with potential employers in 2023.
- Hazard-Perry County Economic Development AllianceminorHPCEDA markets the Coal Fields Regional Industrial Park and recruits industry to Perry County. K-PEGG grants support organizational operations and industrial park marketing. Active partners include One East KY and local businesses.
- Kentucky River Area Development District (KRADD)minorKRADD received K-PEGG funding to support a feasibility study for a connectivity/office hub in the City of Fleming-Neon, Letcher County. Study to assess practicality of broadband/remote work infrastructure.
- Big Sandy Area Development District (BSADD)minorBSADD received K-PEGG as match to a $400,000 ARC POWER grant for the FIRE (Fueling Innovation, Revitalization and Entrepreneurship) program providing small business development services in the Big Sandy area (Floyd, Johnson, Magoffin, Martin, Pike counties).
- East Kentucky Manufacturing Institute (eKAMI)minoreKAMI (now eKentucky Advanced Manufacturing Institute) received multiple K-PEGG grants for CAD software upgrades, robotics lab equipment, digital marketing assets, and promotional videos. eKAMI has graduated 250 previously under/unemployed individuals in eastern Kentucky.
- CEDAR, Inc.minorCEDAR (Community and Economic Development Analysis and Research) received K-PEGG grants to fund the Future of Work in Appalachia Education Program, fostering an entrepreneurial ecosystem and teaching students innovation skills for a sustainable economy.
- Southeast Kentucky Economic Development Corporation (SKED)minorSKED received K-PEGG close-the-deal funding for the Infinity Design and Construction project in Martin, Floyd County. K-PEGG leveraged $1.4 million in loan capital and funded a gap for the project that announced 36 new jobs and $1.75 million capital investment.
- Wheeling PowercoreWheeling Power is a joint owner of the Mitchell Plant alongside Kentucky Power. The West Virginia Public Service Commission will also review the Mitchell Plant cooling tower project. Mitchell Plant provides approximately 780 MW of baseload coal-fired power to Kentucky Power customers.
Scale indicators13 records
Recent moves6 records
Expansion highlights6 records
Kentucky Power Company competitors and assessment
Company assessmentRegional players
- Big Rivers Electric Corporation: Generation and transmission cooperative serving western Kentucky. Comparable as a Kentucky-based electric power provider with overlapping industrial and large-load customers, though structured as a cooperative rather than investor-owned utility.
- East Kentucky Power Cooperative (EKPC): Generation and transmission cooperative serving member distribution cooperatives across central and eastern Kentucky. Operates in the same Kentucky service geography with similar industrial/data center load growth opportunities.
Direct peers
- Louisville Gas and Electric / Kentucky Utilities (LG&E and KU): Other Kentucky-based regulated electric utility (now part of PPL Corporation); serves overlapping Kentucky geography with similar generation, transmission, and distribution services. Direct in-state competitor for industrial customers and large-load siting decisions.
- AEP Ohio: Sister AEP operating company providing regulated electric service in Ohio. Comparable as an AEP system utility with similar regulatory oversight, customer programs, and parent company relationships.
- Appalachian Power: Sister AEP operating company serving West Virginia, Virginia, and Tennessee with regulated generation, transmission, and distribution. Most directly comparable in terms of Appalachian geography, coal-exposed generation mix, and customer base profile.
- Duke Energy Kentucky: Regulated electric utility serving northern Kentucky (and adjacent Ohio) within the Duke Energy system. Comparable in scale, regulatory framework (Kentucky PSC oversight), and customer mix.
- Indiana Michigan Power: Sister AEP operating company serving Indiana and Michigan. Comparable as an AEP system utility with similar regulatory structure, customer programs (EnergyAdvantage, vegetation management), and parent company integration.
Broad incumbents
- FirstEnergy: Multi-state regulated electric utility holding company serving Ohio, Pennsylvania, New Jersey, West Virginia, and Maryland. Comparable in scale and structure as a regulated utility holding company with similar Appalachian coal-exposed generation mix.
- Tennessee Valley Authority (TVA): Federal corporation providing power generation and transmission across Tennessee, Kentucky, Alabama, and surrounding states. Operates as a broad regional incumbent with similar coal-and-nuclear generation mix and large industrial/data center customer programs.
- Duke Energy Corporation: One of the largest US investor-owned utilities serving the Carolinas, Florida, and Midwest. Comparable as a multi-state regulated utility with similar large-load data center growth strategy in its service territories.
Market position
Strengths3 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Kentucky Power Company social profiles
Digital presenceKentucky Power Company financial estimates
Financial estimateRevenue estimate
Valuation estimate
Kentucky Power Company leadership team
Management profileNumber of profiles
Profiles9 records
Kentucky Power Company subsidiaries and ownership
Company hierarchySubsidiaries1 record
Kentucky Power Company funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Kentucky Power Company M&A and investment
M&A and investmentM&A
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Kentucky Power Company
What does Kentucky Power Company do?
Kentucky Power Company generates, transmits, and distributes regulated electricity to approximately 162,000 residential, commercial, and industrial customers across 20 eastern Kentucky counties. The utility operates a share of the coal-fired Mitchell Plant (~780 MW baseload capacity), owns transmission and distribution infrastructure, and complements core electricity service with payment-assistance programs (HEART, THAW, AMP), energy-efficiency offerings (EnergyAdvantage), and economic-development grants (K-PEGG) within its exclusive PSC-regulated service territory.
Is Kentucky Power Company a public or private company?
Kentucky Power Company is a private company. It is classified as corporate owned and is currently operating.
When was Kentucky Power Company founded?
Kentucky Power Company was founded in 1996. It employs 11 to 50 people.
Where is Kentucky Power Company based?
Kentucky Power Company is headquartered in Frankfort, United States, in the North America region.
How does Kentucky Power Company make money?
One revenue line is on record: electricity Sales (Regulated Utility).
Who are Kentucky Power Company's main competitors?
Regional players on record are Big Rivers Electric Corporation and East Kentucky Power Cooperative (EKPC). Direct peers are Louisville Gas and Electric / Kentucky Utilities (LG&E and KU), AEP Ohio, Appalachian Power, Duke Energy Kentucky and Indiana Michigan Power. Broad incumbents are FirstEnergy, Tennessee Valley Authority (TVA) and Duke Energy Corporation.
Does Kentucky Power Company have an API?
No public API is recorded for Kentucky Power Company.
What industry is Kentucky Power Company in?
Kentucky Power Company's product category is Electric Utility Services. Its primary akta.pro industry code is EUADABAI, Electric Distribution System Owners (Wires-Only Companies), with a secondary code of EUAEACAN, Network Upgrades & Capacity Additions (Reconductoring, Rebalancing, Voltage Optimization). Its NAICS code is 2211 and its SIC code is 4911.