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KU - LG&E Seeking Rate Hikes

By Alan Lytle

Lexington, KY – Kentucky Utilities and LG&E have submitted to the Public Service Commission a five year plan to raise electric rates some 19%. LG&E spokesperson Chip Keeling says the additional revenue is needed in order to complete federally-mandated improvements to the utility's coal-fired power plants.

"The total expense, for both utilities, LG&E, and KU, is going to be about 2.5 billion dollars. Obviously, that will be put in over time. It's a little less for the K-U customers because they are impacted less by the new regulations."

Keeling says KU needs to raise some 1.1 billion dollars.

"That would be an increase of approximately $1.13 on a monthly bill beginning in 2012 for a K-U customer. That would ramp up to about $9.46 per month by 2016."

The P-S-C, which sets utility rates will hold hearings on the hike requests before making a ruling sometime in December.