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Kentucky Utilities Company is requesting a $136 million base rate adjustment to cover the costs, for the most part, associated with meeting the growing customer demand for energy.
KU and its sister company, Louisville Gas and Electric Company, have invested more than $1.2 billion in additional generation and infrastructure improvements to ensure safe and reliable service. In addition, the utilities invested more than $133.7 million following two historic storms in 2008 and 2009. The companies are requesting that the costs associated with the fall windstorm and the winter ice storm be spread over the next five years.
With the requested 11.5 percent overall annual increase, KU’s residential base rate costs per kilowatt hour would be 8 cents. The average U.S. residential rate is 11.96 cents per kWh and the average of the seven surrounding state to Kentucky is 9.94 cents per kWh.
A residential KU customer using an average of 1,230 kWh, is expected to see an increase of $11.85 per month, based on the residential increase of 13.7 percent.
Victor A. Staffieri, chairman, CEO and president of E.ON U.S. said with the proposed increase, rates will still be lower than six of seven surrounding states.
Since 1984, when the last KU base load plant was built, KU’s number of customers has increased more than 60 percent and energy demand on the KU system has doubled.