The Kentucky Public Service Commission announced late last week that it had approved a request from Duke Energy to raise rates.
The commission is the administrative body responsible for regulating utility service areas and rates throughout the commonwealth.
“The energy charge for residential customers will increase from $0.111639 per kWh to $0.122399 per kWh with a monthly customer charge of $14.75 per month,” according to a press release from the agency, which you can read here. “An average residential customer using approximately 1,000 kWh of energy will receive an increase of $12.51, or 10.04 percent, increasing the average bill from $124.64 to $137.15 per month.”
Duke requested a rate increase with the commission on Dec. 2, 2024. With last week’s approval, Duke is expecting to increase its revenue by 9.61% annually, the equivalent of $43,692,476 a year, according to the commission. This is actually lower than Duke’s initial request, which was for an annual revenue increase of $70,008,476, or 15.41%.
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