The Kentucky Public Service Commission (PSC) announced Friday that it has approved a rate adjustment for Duke Energy Kentucky, Inc. following the company’s request for a general increase in rates and other relief measures.
On December 2, 2024, Duke Energy sought authorization to raise its annual electric base rate revenue by $70 million, a 15.41 percent increase over current rates. The utility’s last rate adjustment was approved in 2022.
Under the PSC’s latest order, the approved increase will generate $43.7 million in additional annual revenue, a 9.61 percent rise. For residential customers, the energy charge will increase from $0.111639 per kWh to $0.122399 per kWh, with a monthly customer charge of $14.75. An average household using 1,000 kWh per month can expect their bill to rise $12.51, from $124.64 to $137.15, a 10.04 percent increase.
The order also introduced new language for commercial time-of-day rates, including a minimum demand threshold of 40 MW for new high-demand loads to qualify. This provision ensures that costs for serving large commercial customers will not be passed on to existing customers.
Intervening parties in the case included the Attorney General of Kentucky, Kroger Co., and Walmart, Inc.
Records from the case, including Friday’s order and a video of the hearing, are available on the PSC website under case number 2024-00354.
Duke Energy Kentucky, Inc. serves roughly 152,641 electric customers across Boone, Campbell, Grant, Kenton, and Pendleton counties. The utility also provides gas service to 105,000 customers in Boone, Bracken, Campbell, Gallatin, Grant, Kenton, and Pendleton counties.
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