Yesterday, Kentucky Power, a subsidiary of American Electric Power (AEP), announced its intention to seek a 31 percent rate increase to recover costs associated with the Mitchell Plant asset transfer. I believe a 31 percent residential rate increase is far too much for hard-working Eastern Kentucky residents to absorb during these tough economic times. Be assured, we will oppose this filing before the Kentucky Public Service Commission.
It was great to stop by and welcome attendees of the National Association of Attorneys Generals (NAAG)'s "Negotiation Skills" training in Louisville earlier this week. Some of Louisville's finest litigators, including some of my senior staff members, assisted with this important training. I shared with the group our many accomplishments in the Office of the Attorney General, from making the Internet a safer place for Kentucky kids to combating prescription drug abuse and investigating abuses within the for-profit college industry. I am proud of the work we're doing here in Kentucky and I am proud of the partnerships we've forged through NAAG.
I'm looking forward to going back into the courtroom on Monday to present oral arguments in the lawsuit we've filed against National College for allegedly misrepresenting job placement numbers to its students. Our case is being heard in Franklin Circuit Court. National College is one of three for-profit colleges I've sued as part of my investigation into potential abuses in the for-profit college industry.
Finally, Kentucky lost a true class act this week with the passing of Judge Ed Johnstone. He was a credit to the bench and his contributions to the Commonwealth of Kentucky won't soon be forgotten. My prayers are with his family during this difficult time.
My prayers are also with all of our military men and women who sacrifice so much each and every day to defend our freedom. It is because of their bravery and dedication that we are able to celebrate Independence Day. Please have a safe and enjoyable Fourth of July.