Umair Gaines
Energy deregulation in Prestonsburg, Kentucky, allows citizens to choose their energy source and provider. This means that electric companies in the area are incentivized to offer lower prices and better customer service to attract customers. As a result, Prestonsburg residents can benefit from a variety of energy plans, including those that use renewable energy sources such as wind, solar, and water-generated electricity.
| Characteristics | Values |
|---|---|
| Electricity rates | The average residential electricity rate in Prestonsburg is 2.65% less than the Kentucky average of 9.43¢/kWh. The average industrial electricity rate in Kentucky is 5.35¢/kWh. |
| Electricity bill | The average monthly residential electricity bill in Kentucky is $107, which is equal to the national average of $629 per month. |
| Household income | The median household income in Prestonsburg is $33,923, which is approximately 46% less than the median income for the entire US. |
| Poverty level | Approximately 24.7% of Prestonsburg households have incomes below the poverty level. |
| Natural gas prices | Residential natural gas prices in Prestonsburg in February 2024 averaged 11.68 $/Mcf, which was 12% less than the national average rate of 13.25 $/Mcf. |
| Solar radiation | Prestonsburg has an average annual solar radiation value of 4.77 kilowatt hours per square meter per day (kWh/m2/day). |
| Energy options | Energy deregulation allows citizens of Prestonsburg to choose their energy sources. |
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What You'll Learn
Prestonsburg's electricity rates
The electricity company that serves Prestonsburg, Kentucky, is LG&E and KU Energy, a Louisville-based, low-cost energy provider with a commitment to the communities it serves.
The average residential electricity rate in Prestonsburg is 13.79 cents per kilowatt-hour, which is 22.73% less than the national average of 11.88 cents per kilowatt-hour. Residential rates in Prestonsburg are highest in November, and the highest average bill is in July.
The average commercial electricity rate in Prestonsburg is 7.23% lower than the national average of 10.09 cents per kilowatt-hour.
The average industrial electricity rate in Prestonsburg is 17.69% less than the national average of 6.67 cents per kilowatt-hour.
The city of Prestonsburg has a median household income of $33,923, compared to $62,843 for the US. With total emissions of 52,083,340.29 kilograms, the city ranks 102nd highest in Kentucky for pollution from electricity use. However, Prestonsburg does not have any power facilities within the city limits.
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Comparison to Kentucky and national averages
The electricity company serving Prestonsburg, Kentucky, is LG&E and KU Energy.
The average residential electricity rate in Prestonsburg is 2.65% lower than the Kentucky average of 9.43¢/kWh. The average industrial electricity rate in Kentucky is 5.35¢/kWh, while the rate in Prestonsburg is 2.62% higher.
In February 2024, residential electricity prices in Prestonsburg averaged 12.48¢/kWh, which was 22% lower than the national average of 16.10¢/kWh for that month. The average commercial electricity rate in Prestonsburg is 7.23% lower than the national average of 10.09¢/kWh. The national average residential electricity consumption is 903 kWh/month, while in Kentucky, it is 25.14% higher, at 1,130 kWh/month.
In terms of natural gas, Prestonsburg's prices decreased by approximately 39% from January 2023 to January 2024, going from 16.49 $/Mcf to 10.10 $/Mcf. The average monthly solar radiation in Prestonsburg is 28% lower than in Nevada and 21% higher than in Washington.
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Energy options and providers
The cost of electricity is a significant factor for residents of Prestonsburg, Kentucky, and energy companies are working to reduce their prices and offer better customer service. The good news is that energy deregulation in Kentucky means that citizens of Prestonsburg can choose their energy provider and how they power their homes.
The average monthly residential electricity bill in Kentucky is $107, which is the same as the national average of $629 per month. The average (residential) electricity rate in Prestonsburg is 2.65% less than the Kentucky average of 9.43¢/kWh. The average (commercial) electricity rate in Prestonsburg is 7.22% greater than the Kentucky average of 8.73¢/kWh. The average (industrial) electricity rate in Prestonsburg is 2.62% greater than the Kentucky average of 5.35¢/kWh.
For those looking to save money on their energy bills, there are now a variety of energy plans available, including plans that use renewable energy such as wind, solar, and water-generated electricity. This is good news for environmentally conscious consumers, who can now utilize green energy sources without the need for special equipment or expensive home renovations.
For those interested in solar energy, Prestonsburg has an average annual solar radiation value of 4.77 kilowatt hours per square meter per day (kWh/m2/day). This can be compared to other areas in the U.S. with low or high average solar radiation levels, such as Washington and Nevada, respectively.
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Utility rates and usage
Energy deregulation in Kentucky allows Prestonsburg residents to choose their energy sources and providers. This freedom to shop around for the best rates and plans has increased competition among electric companies, incentivizing them to prioritize customer satisfaction and innovate to meet consumer needs.
Electricity rates in Prestonsburg vary depending on usage and consumer category. The average residential electricity rate in Prestonsburg is 2.65% lower than the Kentucky average of 9.43¢/kWh and 22.73% lower than the national average of 11.88¢/kWh. The average commercial rate in Prestonsburg is 7.22% higher than the Kentucky average of 8.73¢/kWh and 7.23% lower than the national average of 10.09¢/kWh. The average industrial rate in Prestonsburg is 2.62% higher than the Kentucky average of 5.35¢/kWh and 17.69% lower than the national average of 6.67¢/kWh.
Natural gas prices in Prestonsburg have decreased significantly over the past year. In January 2023, the residential natural gas price was 16.49 $/Mcf, which decreased to 10.10 $/Mcf in January 2024 and further dropped to 11.68 $/Mcf in February 2024. This is approximately 12% lower than the national average rate of 13.25 $/Mcf for the same month.
The average monthly residential electricity bill in Kentucky is $107, which is equal to the national average of $629 per month. The average industrial electricity bill in Kentucky is $27,621, ranking 8th in the nation and 269.12% higher than the national average of $7,483.
Electricity companies in Prestonsburg are working to reduce their energy prices and provide reliable, affordable, and sustainable energy. They are exploring renewable energy sources, such as wind, solar, and water-generated electricity, to help the environment and reduce electricity costs for consumers.
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Cost and customer service
Energy deregulation in Prestonsburg, Kentucky, allows citizens to choose their energy source and supplier. This freedom to select an energy company based on the available rates and plans is expected to lead to greater innovation in the industry and benefit consumers.
Cost
The average monthly residential electricity bill in Kentucky is $107, which is equal to the national average of $629 per month. The average (residential) electricity rate in Prestonsburg is 2.65% less than the Kentucky average rate of 9.43¢/kWh. The average industrial electricity rate in Kentucky is 5.35¢/kWh, which is 19.79% less than the national average.
Natural gas prices in Prestonsburg have also been decreasing. Residential natural gas prices in January 2024 were 10.10 $/Mcf, compared to 16.49 $/Mcf in January 2023.
Customer Service
Electricity companies in Prestonsburg are focused on providing reliable and affordable service, as well as exploring new sustainable energy sources to help the environment and reduce electricity costs. Quality customer service is a priority for the residents of Prestonsburg, and energy companies are aware that they need to improve in this area to remain competitive.
The LG&E and KU Energy app allows customers to pay their bills, report an outage, view the outage map, manage their accounts, and access energy efficiency programs and tips.
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Frequently asked questions
There is more than one electricity company in Prestonsburg, Kentucky, and residents can choose their energy provider. Some of the companies serving the area include LG&E and KU Energy, and Electricity Local.
The average residential electricity rate in Prestonsburg is 2.65% less than the Kentucky average rate of 9.43¢/kWh.
The average electricity rate in Prestonsburg is 22.73% less than the national average rate of 11.88¢/kWh.
The average monthly electricity bill in Kentucky is $107, which is equal to the national average of $629.
Due to energy deregulation in Kentucky, residents of Prestonsburg can choose their energy provider. This allows residents to shop around for the best electricity rates and plans, and to choose a company that suits their budget and priorities.
