The Kentucky Public Service Commission on Sept. 30 approved EKPC’s request to raise base rates.
The PSC approved a 4.4 percent increase in wholesale base rates, or about $36.4 million in additional annual revenue. For residential co-ops members, the average increase in the monthly power bill will range from $3.32 to $4.40, depending on the distribution cooperative and its rate structure.
The rate adjustment will go into effect Oct. 1.
EKPC filed a request for rate increase in April. In July, EKPC was joined by three interveners—the Kentucky Attorney General’s office, Nucor Steel and AppHarvest—in proposing a settlement of the rate increase request.
Most of the terms of that settlement proposal were included in the PSC’s approval.
This is EKPC’s first base rate increase in 10 years.