More than 1 million Kentuckians will soon pay more for gas and electricity after state regulators approved a rate increase for Louisville Gas & Electric and Kentucky Utilities.
When asking for the rate increases last September, the utility companies said they needed to make system improvements, citing aging infrastructure and equipment damage from severe weather events.
On Monday, the Kentucky Public Service Commission finalized the rate increases, which are smaller than what the utilities asked for. The utilities’ original request would have been a roughly 10% hike on electric bills and about 15% on gas bills. But a month later, a settlement agreement lowered the rate increases
With the rate hikes, the average LG&E customer will pay about $5 more per month, and the average gas customer will pay about $8 more per month.
The average KU customer will pay nearly $9 more per month.
The new rates take effect immediately. Because the utilities began using interim rates January 1 that were higher, some customers may see credits on their bills in the next 60 days.
Source: WDRB
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