By Tom Latek
Kentucky Today
The Kentucky Public Service Commission (PSC) announced Friday that they have issued an Order in Duke Energy Kentucky, Inc.’s (Duke) filing for a general adjustment of rates and other general relief.
On Dec. 2, 2024, Duke requested authorization to increase its annual electric base rate revenue by $70,008,476 or 15.41 percent from its current rates. Duke Kentucky’s last adjustment of its electric rates was granted in 2022.
In this latest order, the PSC approved rates that will produce an annual increase in revenues of $43,692,476 or 9.61 percent. 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. 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.
The Order also approved new language regarding the terms and conditions for commercial time-of-day rates. The language sets a new minimum demand provision for new loads of 40 MW to receive the commercial rate. The new language will ensure that the cost of providing power to future high demand customers will not be shifted to existing customers under Duke Kentucky’s commercial time-of-day tariff.
The following parties were granted intervention in this proceeding: the Attorney General of Kentucky, Kroger Co., and Walmart, Inc.
Friday’s order, a video of the hearing, and other records in the case are available on the PSC website. The case number is 2024-00354.
Duke Energy Kentucky, Inc. is a jurisdictional electric utility that generates, transmits, distributes, and sells electricity to approximately 152,641 consumers in Boone, Campbell, Grant, Kenton, and Pendleton counties. Duke Kentucky also provides gas service to 105,000 customers in Boone, Bracken, Campbell, Gallatin, Grant, Kenton and Pendleton counties, Kentucky.