Frankfort, Ky – The Kentucky Public Service Commission has accepted a settlement that allows Kentucky-American to increase annual revenue by 10-point-3 million dollars or about 17 percent.
The psc says the increase will raise the typical monthly residential bill by about three dollars and 90 cents.
Kentucky American wanted a 31 percent increase which would have increased monthly bills by about 7 dollars.
Kentucky American says it needs additional revenue to meet increased operating costs and to pay for system improvements, particularly the water treatment plant it is building on the Kentucky River in Owen County and the pipeline from that plant to Fayette County.
The new rate takes effect immediately.