Duke Energy Kentucky requests to increase revenue by $49 million
Duke Energy Kentucky recently filed with the Kentucky Public Service Commission (KYPSC) to increase its revenues by approximately $49 million, which would result in an average rate increase of 15 percent across all customer groups.
The increase would be the first rate base increase in 11 years for the company, which serves customers in Boone, Kenton, Campbell, Pendleton, Grant and Gallatin counties.
The request was driven by investments including smart meters, new solar facilities, and coal ash management at East Bend Station as well as the costs of responding to recent major storms.
“Customers have told us they want more control over their energy usage, their utility bill, and tools to help them make smart energy choices to keep energy costs as low as possible,” Duke Energy Kentucky President Jim Henning said. “We continue to make the investments needed to build that smart energy future for our customers.”
If KYPSC approves the request, residential customers would experience an approximate 17.4 percent increase in electric rates and commercial and industrial customers would see an average increase of 13.7 percent beginning April 1, 2018.
“We know the energy bill is a sizable monthly expense for many customers,” Henning said. “That’s why we provide programs and tools to help keep their energy costs low.”
KYPSC will now issue a procedural schedule to provide opportunities for parties to participate. It will then consider testimony from other parties and schedule a hearing in Frankfort. Duke Energy Kentucky expects the process to be completed by the end of March 2018.
