FRANKFORT, Ky. — At the beginning of the year, the Martin County Water District filed a request with the Kentucky Public Service Commission, seeking a nearly 50 percent across-the-board increase in rates.
Now, an analysis of the utility’s finances by PSC staffers argues that the company requires less than half that amount.
In a report filed yesterday, the Division of Financial Analysis found that Martin County Water only needs to raise rates by 23.7 percent in order to meet its obligations. That raise the average residential customer’s water bill from about $40 a month to just over $49, That compares to an average bill of nearly $60 under the utility’s original proposal.
PSC commissioners must still rule on the matter and can accept, reject or amend the request.
Martin County Water and other interested parties now have 14 days to respond to the report.