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Release of E.Ky. Power management audit delayed

The release of a state-ordered management audit of East Kentucky Power Cooperative is being delayed from this month to early March.

The state Public Service Commission said the co-op, which provides electricity for more than 500,000 homes, farms and businesses through its 16 member cooperatives, asked for more time to respond to issues that were raised.

East Kentucky Power spokesman Nick Comer said the extension was requested "in order to respond thoroughly to the commission."

The audit is the culmination of three years of concern by the commission about the financial condition of the utility. The report will explore to what extent, if any, the co-op's management structure has contributed to its financial problems.

There has been concern that the structure of its board, composed of representatives of its 16 member co-ops, is inherently flawed because the customers might be more interested in their own co-ops than the health of East Kentucky Power.

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