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Wed September 30, 2009
Utilities Want To Raise Rates To Help Pay For Storm Costs
By Tony McVeigh
Frankfort, KY – Fifty-one percent of LG&E's customers, mostly in Jefferson County, lost power during the ice storm. Forty-percent of Kentucky Utilities' customers were impacted, but damage to KU's system was more severe, since most of the outages were in hard-hit Western Kentucky.
KU wants to recoup $62 million in damage repair costs. LG&E wants $45 million.
The Public Service Commission is allowing each to establish separate accounts in those amounts, which the companies will try to recover through future rate increases. But the accounts are no guarantee of recovery. Both utilities must file rate cases with the PSC and seek approval for the recovery costs.
Both utilities also established separate accounts to recoup losses suffered last year from the remnants of Hurricane Ike. Combined, the utilities now have $134 million in deferred storm-related costs.