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.