Kentucky Power is in a power supply quandary. The utility may not be able to provide for residential customers and a proposed crypto facility by 2026. Kentucky Power Vice President, Brian West, acknowledged this in a recent hearing, according to <a href="https://www.lpm.org/news/2023-07-20/kentucky-power-doesnt-have-capacity-for-customers-and-250-million-cryptomining-facility" rel="noopener noreferrer nofollow">lpm</a>.&nbsp; 
Chinese firm Ebon International plans to build a $250M cryptomining complex in eastern <a href="https://ultramining.com/news/en/mining-giant-ebon-will-invest-millions-in-cryptocurrency-mining-in-kentucky/" rel="noopener noreferrer nofollow">Kentucky</a>. It has leased 55 acres from Kentucky Power. The terms of the electric supply deal are confidential but could lead to higher bills for customers. 
In December, Kentucky Power faced a power shortfall. As a result, it had to buy electricity at about 100 times the normal rate. This scenario could repeat if the utility's power supply falls short again. 
Kentucky Power is now proposing an 18% rate increase on residential customers. It attributes the rate hike to natural disasters and population loss. 
However, West points out potential benefits of Ebon's proposal. He claims it would stimulate $96M in economic development in its first year. The annual contribution would then be about $27M. The facility would also create about 100 jobs with salaries up to $76,000. 
Opponents question these claims. Attorney Michael Kurtz suggests most jobs would pay $18 or less. Doubts also loom over the ability to sue Ebon's parent company in case of a dispute. 
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Kentucky Power Faces Resource Crunch Amidst $250M Crypto Mining Plan

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