Eastern Kentucky's largest utility, Kentucky Power, wants to raise its residential and commercial rates. The state's Public Service Commission is slated to hear the case
on November 28th, and if approved, changes would likely go into effect next year.
Carrie Ray, director of energy programs with the Mountain Association explains that residential customers could see a 20% percent rate increase, and a 14% base-fee increase under the proposal. Ray says a review of the electric bills of just a portion of their clients showed that these businesses, nonprofits, city buildings, community centers and other institutions would shell out collectively an additional more than $413,000 dollars per year toward energy bills, adding that the region's economy is already struggling with high energy costs.
"The average small commercial bill went up 13.5%, and the average large commercial bill, which is your hospital, your grocery store, that bill went up 7.6%."
In a statement, Kentucky Power says a series of natural disasters in recent years, including 2022's historic flooding, the loss of several large commercial and industrial customers, and overall population decline are driving up rates.
Amethyst Muncy, law clerk with Appalachian Citizens Law Center argues that instead of raising rates, the utility should be investing in energy efficiency programs, and helping customers make wise decisions about how they want the future of their energy to look.
"The service region has the highest average residential bills in Kentucky," Muncy said. "And so there's really no good reason for them to continue to raise rates and continue to increase the bills that customers in Eastern Kentucky will have to pay. "
Ray added residents don't have to be energy experts to make their voices heard on how the rate increase would impact their family, business, or community. Public comments can be submitted at psc.ky.gov.
"One of the things that the PSC has specifically said is they want to know how their decisions are going to affect the ratepayers themselves," Ray said.
Last year, one in five American households struggled to pay for an energy bill, and that rate was 50% higher for households of color, according to a report by the Energy and Policy Institute and Center for Biological Diversity.
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Online scams are growing in scale and sophistication, affecting millions and creating economic losses estimated at $1 trillion globally in 2023.
The upcoming Global Anti-Scam Summit in Arlington, Va., will bring experts together to develop strategies to combat the threat.
Jorij Abraham, managing director of the Global Anti-Scam Alliance, said as scams continue to surge, inflicting financial and emotional harm, there is an urgent need to work together.
"The big challenge is that we have to work across the different industries and across borders because scammers are getting very, very professionalized," Abraham pointed out. "We see scammers usually doing the same scam in 80 different countries and there the challenge is really putting them behind bars."
The summit is scheduled for Nov. 12-13.
Abraham advises people to consult friends and family before acting on suspicious texts or emails. According to the FBI, scams targeting Americans age 60 and older led to more than $3.4 billion in losses in 2023, though many cases go unreported.
The FBI also warns the public about scammers exploiting the 2024 U.S. general election for financial fraud. Abraham noted scams are becoming among the most reported crimes.
"We are continuously being bombarded by scammers who are trying to get our identity or our money," Abraham observed. "The goal of the summit is to discuss how can we reduce the approaches by scammers, trying to make sure that they are less successful and in the end actually are trying to really catch the scammers."
The FBI's report found tech support scams to be the most commonly reported type of elder fraud in 2023, affecting nearly 18,000 victims over age 60. Investment scams, however, were the most financially damaging, resulting in more than $1.2 billion in losses. The FBI said the fraud often involves cryptocurrency schemes targeting older Americans' finances.
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Millions of Californians buy used cars still under a manufacturer's warranty - but consumer groups say those warranties are now essentially unenforceable.
It's the result of a ruling Thursday by the California State Supreme Court. The panel of judges agreed with car manufacturers that the state's so-called "lemon law" only applies to new cars.
"You won't be able to tell the manufacturer, 'Hey, you have to fix my car or I want a refund.' The manufacturer can just blow you off," said Rosemary Shahan, president of the nonprofit Consumers for Auto Reliability and Safety.
Owners of these used vehicles could be faced with big unanticipated repair bills if the manufacturer opts not to honor the remainder of the warranty. The court ruling means they will no longer have a right to a refund or replacement vehicle.
Shahan said she thinks that now the California Legislature should step in. She said other states already have acted to better protect used-car buyers.
"A number of other states have used car 'lemon laws,' where they mandate warranties," she said, "and they say if you pay a certain amount for a used car, that the warranty has to last for a certain period of time, and you have the right to get a refund or replacement."
The case, Rodriguez v. Fiat Chrysler of America Inc., has been in litigation for several years. Lemon-law experts say it is unclear whether this decision covers what are known as "certified" used vehicles - promoted by the manufacturers as "like new."
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CORRECTION: An earlier version of this story misstated the nature of additional flood insurance requirements. It is optional in most, but not all, cases. (10:45AM MST, October 28, 2024)
Since Hurricanes Helene and Milton devastated Florida, more than
49,000 insurance claims have been denied, leaving thousands of residents in financial uncertainty as they attempt to rebuild.
According to data from the Florida Office of Insurance Regulation, many companies denied claims related to flood damage, a peril not typically covered under standard homeowners' insurance policies.
Mark Friedlander, corporate communications director for the Insurance Information Institute, explains that many denied claims result from homeowners not having separate flood insurance, which is required for policyholders with Citizens Insurance and those with mortgages in high-risk zones.
"Standard home, condo and renters policies do not include flood damage," Friedlander pointed out. "If you're filing a flood loss with your property insurer, it's going to be denied. Another issue is not meeting the deductible; that's another big category of denials."
For instance, he noted if you have a $10,000 windstorm deductible and your damage is $8,000, there will be no claim payout. He added the threshold has led many homeowners to find themselves without compensation for damages falling just short of deductible limits. He emphasized property owners should consider purchasing separate flood-insurance policies to be fully financially protected.
For residents whose claims were denied, Friedlander advised considering Federal Emergency Management Agency assistance as a partial alternative. He revealed some homeowners intentionally file claims they know will be denied to meet FEMA requirements.
"In order to qualify for FEMA emergency grants, you must prove to FEMA that you did not have insurance coverage for the loss," Friedlander stressed. "The only way to do that is to get a denied claim. You need to show the letter from your insurer to FEMA as part of the application process for the grant."
Florida's high cost of property insurance added another layer of difficulty, with annual premiums averaging $5,527 dollars for a home valued at $300,000. The premium is more than twice the national average, creating a financial strain for many. Despite the recent hurricanes, Friedlander reassured residents Florida's insurance market remains resilient, crediting recent legislative reforms.
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