KU Reaches Agreement
Kentucky Utilities and most parties to the utilities’ rate review have reached an agreement filed with the Kentucky Public Service Commission. The agreement, which is subject to approval by the KPSC, gives Kentucky Utilities the ability to invest in intelligent control equipment that will enhance reliability and enable faster restoration of service.
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If approved by the KPSC, KU would receive a revenue increase of $54.9 million. A KU residential customer using an average of 1,179 kilowatt hours per month would see an increase of $4.21 per month. According to the agreement, the monthly electric basic service charge for KU, included in the increase above, would be $11.50 beginning July 1, 2017, and $12.25 beginning July 1, 2018, respectively. LG&E’s monthly natural gas basic service charge would be $16.35 beginning July 1, 2017,
“There were a large number of parties with different interests involved in this case and we are pleased to have reached a settlement that benefits our customers and their constituent groups,” said Kent Blake, KU chief financial officer. “The agreement gives us the ability to enhance our reliability and continue providing safe and reliable service to our customers while meeting the needs of the parties to this case.”
The public hearing on the rate review is scheduled to begin May 9 at the KPSC offices in Frankfort.