Rates remain below national, state averages.
Company will help customers manage rate increase and financial challenges during Covid-19 pandemic.
New renewable energy option created for large users.
CINCINNATI – The Kentucky Public Service Commission (KPSC) issued an order on April 27 approving new rates for Duke Energy Kentucky’s 143,000 electric customers, effective today.
The company’s electric customers will continue to pay rates below national and state averages.
In September 2019, Duke Energy sought the public review of its rates to support its ongoing investments in the region’s electric delivery system and power plants.
Duke Energy Kentucky provides electric service to customers in Boone, Campbell, Grant, Kenton and Pendleton counties.
The company also delivers natural gas to about 100,000 customers in those counties, as well as Bracken and Gallatin counties, but the commission’s order does not impact natural gas rates.
The KPSC’s order increases residential customers’ average bills by 9.8 percent, although the percentage increase for individual customers might differ, based on usage.
A typical residential customer who uses 1,000 kilowatt-hours of electricity each month will pay about $94.87 per month – an increase of about $8.48 over current rates.
Commercial and industrial customers will pay an average increase of about 6.6 percent. Actual rates for commercial and industrial customers will vary by customer group and size.
Renewable energy option approved
The KPSC also approved creation of the Green Source Advantage program that provides a convenient and cost-effective way for qualifying large energy users to meet their internal sustainability goals. Through this voluntary program, a large customer can work with Duke Energy Kentucky to procure renewable energy resources – with the costs billed, and net revenues paid, to the customer through a new tariff.
The Green Source Advantage program supplements Duke Energy Kentucky’s existing renewable energy and sustainability programs – including GoGreen Kentucky, which gives customers the ability to support the development of green power sources.
Duke Energy Kentucky owns a total of about 6.8 megawatts of solar power at three Northern Kentucky projects and is exploring additional solar projects across its system.
COVID-19 Customer Assistance
Duke Energy Kentucky has implemented several measures to assist customers during the COVID-19 pandemic. The company has temporarily suspended disconnections for nonpayment and waived all fees for late payments and returned checks. For residential customers, credit and debit card payment fees have been waived as well.
The company is also offering more flexible payment arrangements. Although customers are encouraged to stay as current as possible to avoid building up a large balance that might be difficult to manage later, they can request an extension or set up a deferred payment arrangement on any outstanding balance.
Duke Energy knows this is a trying time, and is committed to serving its customers. Households and businesses that are having difficulty paying their bills can call the company’s customer service center to develop a payment plan: 800.544.6900.
Learn more about how Duke Energy is handling operations during the Covid-19 pandemic.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky, a subsidiary of Duke Energy, provides electric service to about 860,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to approximately 538,000 customers.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers’ experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit’s regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune’s 2020 “World’s Most Admired Companies” list, and Forbes’ 2019 “America’s Best Employers” list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy’s illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Sally Thelen