FRANKFORT, Ky. — The state Public Service Commission ruled on Kentucky Power’s request for a rate increase on Wednesday, denying the rates by the company, but granting a slightly smaller increase.
Kentucky Power had been seeking a rate increase that would have seen residential customers pay an additional 16 percent on their power bills. Under the rates approved by the PSC, that increase would be about 15.5 percent. That means the average customer bill would rise from $120 a month, to $138.
But the PSC also approved a credit for federal tax savings which will decrease the average bill in winter months to $114 — a savings of 4.5 percent.