Kentucky Utilities, which serves the Crofton area and portions of Hopkins, Caldwell and Muhlenberg Counties, will soon raise its electric service rates.
The Public Service Commission issued a statement Tuesday, saying the base rate portion of the monthly bill for a typical KU residential customer will increase by about $4.27.
In their application to adjust rates, Kentucky Utilities cited increased operating costs, including investments made to improve reliability and safety. They also cited the need to maintain the rate of return for their shareholders and investors.
KU had actually requested the Public Service Commission to allow them a greater increase.
The smaller revenue increases agreed to in the settlement came mostly through lowering the rate of return for investors, by changing depreciation calculations for certain physical assets and by including certain non-ratepayer revenue in the calculation of overall revenue.
The rate hikes were set to take effect May 1.