KU and LG&E have filed a new settlement proposal with the Kentucky Public Service Commission, which oversees utility rates in the state.
Under the latest proposal, KU would receive a $132 million increase for electric service, down from an original ask of $226 million. The average customer would see an increase of $9 a month, or half of the hike that was originally proposed.
Under the agreement, both KU and LG&E would commit to not increase base rates again until at least August 1, 2028. If ultimately approved, the current proposal would not go into effect before 2026…