Duke Energy wants to raise rates 17.4%

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EXCLUSIVE 6:31 am/Saturday/9-12-2017
Duke Energy wants to
raise rates 17.4%

Electric rates will increase about 17.4 percent for residential customers

If approved by the KYPSC, beginning April 1, 2018, electric rates will increase about 17.4 percent for residential customers. Commercial and industrial customers will see an average increase of around 13.7 percent (actual impacts vary by customer size and rate group).

The charge for a typical residential customer who uses 1,000 kilowatt-hours (kWh) of electricity monthly would increase $15.17 from $88.60 to $103.77. The average monthly bill for a residential customer will be $29 less than the national average.

Duke Energy says "the need to make critical infrastructure investments in its electric generation and delivery systems" has led it to seek its first base rate increase in 11 years for its 140,000 electric customers in the state.

Through aggressive cost control, the company has managed to keep increases in its operating costs below inflation during that time period.

Duke Energy Kentucky currently serves electric customers across Boone, Kenton, Campbell, Pendleton, Grant and Gallatin counties.

The request was filed with the Kentucky Public Service Commission (KYPSC) to increase revenues by about $49 million, for an average rate increase across all customer groups of 15 percent.

"Customers have told us they want more control over their energy usage, their utility bill and tools to help them make smart energy choices to keep energy costs as low as possible," said Jim Henning, president, Duke Energy Kentucky. "We continue to make the investments needed to build that smart energy future for our customers."

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