Saving Kentuckians Over $5.8 Million in Natural Gas Rate Increases
FRANKFORT, Ky. – Attorney General Cameron today announced his Office of Rate Intervention reached a proposed settlement agreement with Duke Energy Kentucky, Inc. (Duke Energy). The agreement saves Kentuckians over $5.8 million in proposed natural gas rate increases, which is 38 percent less than Duke Energy initially requested. The settlement also provides that Duke Energy will not seek an additional base rate increase for at least four years.
“As inflation rises, our office continues our commitment to representing the interests of Kentuckians in utility rate matters,” said Attorney General Cameron. “Kentuckians work hard to earn a living, and this settlement protects those hard-earned dollars by saving business and residential rate payers over $5.8 million in proposed natural gas rate increases.”
In June, Duke Energy filed an application with the Kentucky Public Service Commission (PSC) to increase natural gas rates for over 100,000 Duke Energy customers in Boone, Bracken, Campbell, Gallatin, Grant, Kenton, and Pendleton counties. If the requested increase was granted, business and residential rates would increase by over 13.5 percent. If the PSC approves the settlement, the average residential customer will see a rate increase of eight percent. The settlement saves Kentuckians $5.868 million.
The settlement was filed today with the PSC.
To view a copy of the settlement, click here.
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