Kentucky AG calls on quick approve in Public Service Commission - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Kentucky AG calls on quick approve in Public Service Commission case

Andy Beshear (Source: Wikimedia Commons) Andy Beshear (Source: Wikimedia Commons)

Kentucky Attorney General Andy Beshear is calling on Kentucky's Public Service Commission (PSC) to quickly approve a settlement between his office and two utilities companies that will directly return millions of dollars to Kentuckians.

The settlement was filed by Kentucky Utilities Company (KU) and Louisville Gas and Electric Company (LG&E). The settlement 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 (Jan. 1, 2018, until April 30, 2019).

“My office has worked on this agreement with the utilities to ensure that their savings from a lower corporate tax rate is immediately returned to each ratepayer,” Beshear 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 or LG&E utility bill.”

Federal tax reform reduced the corporate income tax rate for utility companies from 35 percent to 21 percent. Kentuckians pay utility taxes at state and federal level.

On Jan. 11, Beshear and a bipartisan coalition of 18 state attorneys general, state agencies and consumer advocates called for Kentuckians, not public utilities, to receive the benefits of the recently reduced federal corporate tax rate.

At the state level, the PSC issued an order to public utilities in Kentucky asking them to begin tracking their savings under the lower corporate tax rate.

Beshear said his office would intervene in all upcoming state utilities case like the KU and LG&E settlement case to ensure customer receive the full economic benefit of the tax reduction.

Beshear's Office of Rate intervention serves as a watchdog for consumers of health insurance, natural gas, water, sewer, electric and telephone rates. Under Kentucky law, the office is responsible for representing the interests of Kentucky consumers before governmental rate-making agencies, concentrating on utility cases before PSC.

On Jan. 8, Beshear's office recommended that the PSC reduce the current rate Duke Energy could charge its Kentucky customers by $16 million.

Beshear's intervention in the AEP/Kentucky Power case helped decrease monthly bills by 4 percent when the company aimed for a 16 percent increase.

In 2017, Beshear announced that his Office of Rate Intervention entered into a settlement with LG&E and KU that will save Kentuckians $90 million annually. $33.2 million of that is residential customers.

Beshear’s office saved families over $96 million in increases to their utility bills in 2017.

Download the KFVS News app: iPhone | Android

Copyright 2018 KFVS. All rights reserved.

  • Heartland NewsMore>>

  • Inmate death investigation in Pemiscot Co., MO

    Inmate death investigation in Pemiscot Co., MO

    Saturday, August 18 2018 4:32 PM EDT2018-08-18 20:32:05 GMT
    The Missouri State Highway Patrol Division of Crime Control is investigating at the request of the sheriff. (Source: KFVS)The Missouri State Highway Patrol Division of Crime Control is investigating at the request of the sheriff. (Source: KFVS)

    The Missouri State Highway Patrol Division of Crime Control is investigating at the request of the sheriff.

    The Missouri State Highway Patrol Division of Crime Control is investigating at the request of the sheriff.

  • 4 injured in off-road crash in Reynolds County, MO

    4 injured in off-road crash in Reynolds County, MO

    Saturday, August 18 2018 4:26 PM EDT2018-08-18 20:26:45 GMT
    Two were flown to St. Louis-area hospitals. (Source: Raycom Media)Two were flown to St. Louis-area hospitals. (Source: Raycom Media)
    Two were flown to St. Louis-area hospitals. (Source: Raycom Media)Two were flown to St. Louis-area hospitals. (Source: Raycom Media)
    Four people are injured following a crash in Reynolds County, Mo. on Aug. 18. According to MSHP, around 11:10 a.m., Brian Maize was driving off road with three passengers, two adults and one juvenile.  Download the KFVS News app: iPhone | Android Maize hit a tree and was forced into another tree before coming to a rest. Cecil Rawlings, 45, of Centerville, Mo. and the juvenile, were flown to St. Louis-area hospitals with serious injuries. Maize and Tor...
    Four people are injured following a crash in Reynolds County, Mo. on Aug. 18. According to MSHP, around 11:10 a.m., Brian Maize was driving off road with three passengers, two adults and one juvenile.  Download the KFVS News app: iPhone | Android Maize hit a tree and was forced into another tree before coming to a rest. Cecil Rawlings, 45, of Centerville, Mo. and the juvenile, were flown to St. Louis-area hospitals with serious injuries. Maize and Tor...
  • First Alert: Scattered showers, thunderstorms possible Saturday

    Saturday, August 18 2018 3:47 PM EDT2018-08-18 19:47:38 GMT
    With higher dew points still across the Heartland, it will not only feel muggy this morning but through the entire day. (Source: Charlotte Johnson - Portagevlle, MO, cNews)With higher dew points still across the Heartland, it will not only feel muggy this morning but through the entire day. (Source: Charlotte Johnson - Portagevlle, MO, cNews)

    Partly cloudy skies today with scattered showers and thunderstorms possible this afternoon especially in western Kentucky and Tennessee. These will clear out shortly after sunset.

    Partly cloudy skies today with scattered showers and thunderstorms possible this afternoon especially in western Kentucky and Tennessee. These will clear out shortly after sunset.

Powered by Frankly