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Beshear Asks PSC to Reduce Duke Customers’ Current Rates by $16 Million

AG’s Office of Rate Intervention wants PSC to decrease current rates, reject proposed increase

FRANKFORT, KY. (Jan. 8, 2018) – Attorney General Andy Beshear announced today that his Office of Rate Intervention is recommending that the Public Service Commission (PSC) reduce the current rates Duke Energy charges its Kentucky customers by $16 million.

Currently, Duke Energy, which services many Northern Kentucky counties, is requesting a $48.6 million increase in its rates.

Beshear said he believes not only should the increase be denied, but also that current rates should be reduced by the additional $16 million.

“As Kentuckians have experienced some of the coldest temperatures recently, it’s even more evident that our families simply cannot pay any more,” Beshear said. “Duke Energy is a sophisticated company that can maintain its infrastructure while still charging a lower rate.”

Beshear’s office recently filed expert testimony in support of the reduction.

This amount is $64.66 million less than the $48.6 million increase the company is proposing.

Beshear’s Office of Rate Intervention serves as a watchdog for consumers in matters relating to health insurance, natural gas, water, sewer, electric and telephone rates. Under Kentucky law, the office is responsible for representing the interests of Kentucky consumers before governmental ratemaking agencies, concentrating on utility cases before PSC.

In 2017, Beshear announced that his Office of Rate Intervention entered into a settlement with LG&E and KU that will save Kentucky ratepayers $90 million annually – $33.2 million of that for residential customers. He also recommended the Public Service Commission deny AEP/Kentucky Power’s more than $60 million proposed increase. 

Overall in 2017, Beshear’s office saved families over $96 million in increases to their utility bills.

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