Kentuckians to Benefit from Utilities Settlements

Attorney General Andy Beshear is calling on the Public Service Commission to quickly approve a settlement between his office and two utilities companies that directly returns millions of dollars to Kentuckians. The settlement filed on Monday, January 29, 2018 with the PSC by Kentucky Utilities Company and Louisville Gas and Electric Company would allow the companies to return $176.8 million in savings from recent federal tax reform to its customers over a 13-month period. The actual amount of savings would be for a 16-month period, January 1, 2018 until April 30, 2019. The attorney general said if the PSC acts quickly to protect Kentuckians, each family will see a line of credit for their energy consumption on April’s KU and LG&E utility bill. Federal tax reform earlier this month reduced the corporate income tax rate for utility companies from 35 percent to 21 percent. Kentuckians pay utility taxes at the state and federal level.

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