Duke Energy Rate Hike Proposal Could Be Thwarted By Corporate Tax Cuts
By Travis Thayer
(Boone County, Ky.) – Duke Energy is seeking to increase rates in northern Kentucky, but corporate tax cuts could spare customers.
The electric company announced last month that it wants to enact a 15.7 percent electric rate increase in northern Kentucky, which would raise typical residential monthly electric bills by around 15 dollars.
It’s the first time in 11 years the company has attempted to raise electric rates.
However, recently passed corporate tax cuts could prevent such increases, reports the Cincinnati Enquirer.
Last year, Kentucky Power Company filed for a similar rate increase, but the Kentucky Public Service Commission decided to cut their rate increase of 11 percent in half due to a cut in federal corporate income tax.
A PSC spokesman says it’s reasonable to expect a similar decision when it comes to Duke Energy’s proposed rate hike.
Customers will also have a say. Duke’s rate case will be the topic of discussion this evening at 5:30 in the Boone County High School auditorium.
Duke Energy has about 140,000 customers in six northern Kentucky counties.