By Ruth Bamberger
Duke Energy is currently requesting a 16.2 percent electric rate increase from the Kentucky Public Service Commission for Northern Kentucky residents.
According to Duke, reasons for the increase include an inadequate rate of return on investment which inhibits its ability to invest in infrastructure to provide safe and reliable service, and to recover costs incurred following a November 2018 ice storm.
Under Kentucky law, utility rates must be “fair, just, and reasonable” for all stakeholders—customers and shareholders, as well as the company itself to fulfill its mission. This current request is unreasonable to customers in particular, who after a hefty rate increase in 2018 are now being asked to absorb another big increase.
If Duke’s request is approved, a residential customer who uses an average of 1000kw hours of electricity a month will pay about $112.08 per month, an increase of about $15.62, or about 16.2%.
The base rate would increase from $11 to $14, and the cost per kilowatt hour from $.07 to $.08.
The Public Service Commission held a public hearing on the rate request at Gateway Community College in Edgewood on February 13; about twenty-five residents attended and all comments made argued against the increase, especially as it came so soon after the last big increase in 2018.
Covington and Ludlow residents who testified noted how hard it would be for renters, those on fixed incomes, and lower income groups to cope with the size of the electric rate increase.
Duke customers can contact the PSC with their thoughts (and even personal stories about how the rate would affect them) . Written comments can be mailed to the PSC at P.O. Box 615. Frankfort, KY 40602, faxed to 502-564-3460, or e-mailed from the PSC website: www.psc.ky.gov .
Ruth Bamberger is a resident of Ludlow
My biggest problem is how in the world is Duke allowed to sponsor so many things? I would bet their sponsorship payouts surpass $100 million a year nation wide. From local events, to sports arenas, to museums, etc.
The last I checked i only have one single option to get my electricity at my house… Why do they need to spend boat loads of money on sponsorships then? It’s not like they have to worry about losing my business, I can’t get electricity from a different or competing company…
That, and the layers upon layers of pointless employees, “management”, and foundations they supposedly run, so on and so fourth, and the very well paid in-house lobbyists across the states, etc.
Before you raise my rates how about you stop sponsoring things since you have a monopoly over 99% of wherever your power lines run, and cut the extra fat in terms of pointless positions and payrolls.
Utilities are a monopoly to begin with regardless of checks and balances from the government, but you add to the fact Duke just merged/bought out/took over half of the eastern united states utility companies in recent time…