Kentucky AG: Settlement will reduce electric rate increase

Kentucky

Electrical power pole with a blue sky background (Photo Courtesy: Getty Images)

FRANKFORT, KY (AP) — Kentucky Attorney General Daniel Cameron has announced a settlement with the state’s two largest electric utilities to reduce proposed rate increases.

Cameron’s office said the settlement would save ratepayers at LG&E and Kentucky Utilities more than $113 million.

The agreement must get the approval of the Kentucky Public Service Commission.

The utility companies proposed in a meeting with the state commission in November to increase rates by $331 million.

The settlement cuts that by about 34% over two years.

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