Kentucky AG: Settlement will reduce electric rate increase

Breonna Taylor Daniel Cameron

FRANKFORT, Ky. (AP) — Kentucky Attorney General Daniel Cameron has announced a settlement with the state’s two largest electric utilities to reduce proposed rate increases. Cameron’s office said the settlement would save ratepayers at LG&E and Kentucky Utilities more than $113 million. The agreement must get the approval of the Kentucky Public Service Commission. The utility companies proposed in a meeting with the state commission in November to increase rates by $331 million. The settlement cuts that by about 34 percent over two years.