Kentucky Power and TeraWulf Strike $100 Million Customer Benefit Deal

The amended contract, pending approval from the Kentucky Public Service Commission, targets a 2029 start for the credits, which could shave approximately $25 off monthly winter bills for the average household. Beyond the direct financial relief, the deal accelerates the expansion of the Muskie facility in Grayson, moving the second 500-megawatt phase forward by a full year.

To ensure existing ratepayers remain insulated from the costs of this rapid industrial growth, TeraWulf has committed to covering the financing expenses for a new 760-megawatt combined-cycle generation plant at Big Sandy. According to Kentucky Power president Cindy Wiseman, the arrangement aligns large-scale economic development with community-wide value. TeraWulf CEO Paul Prager noted that the partnership provides the necessary stability to meet rising power demands while fueling regional investment. If sanctioned, the deal includes collateral requirements to secure customer protections as the project moves toward its 2029 target.