LG&E Seeking Rate Increase

by Gabe Bullard on January 14, 2010

Louisville Gas and Electric Company will soon file for a rate increase with the Public Service Commission. LG&E hopes to recoup expenses for infrastructure improvements and repairs after the wind and ice storms of the last two years.

LG&E is asking the PSC to approve a 12 percent increase in electric rates and a nearly 9 percent increase in gas rates. The hikes would add about nine dollars to the average electric bill and four dollars to the average gas bill.

Spokesperson Chip Keeling says he knows a recession is not the best time to raise rates, but LG&E needs the additional funds.

“It was not an easy decision, particularly in this difficult economy,” he says. “But we’ve spent billions of dollars in our infrastructure, we’ve had two major storms and had to have restoration for those.”

The PSC is expected to rule on the new request by August 1st.

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