Duke Energy Kentucky proposes new client benefits; requests electric distribution rate review as it continues smart investments and cleaner energy transition

Duke Energy Kentucky proposes new client benefits; requests electric distribution rate review as it continues smart investments and cleaner energy transition

As a result of the company’s ongoing investments to grease a clean, secure energy future, strengthen the electric grid, reduce power outages and enhance value to the company’s nearly,000 electric guests in Northern Kentucky, Duke Energy Kentucky moment filed a request with the Kentucky Public Service Commission( PSC) to perform a public review of the company’s electric distribution rates and authorize a rate adaptation.

Overall, the proposed adaptation amounts to an approximate$75.2 million increase, or an overall increase in electric rates of17.8. still, the yearly electric bill for a typical domestic client using 1, 000 kilowatt- hours per month would increase by roughly$ 25 per month, If approved by the PSC coming time. Nonresidential guests will see bill impacts of varying degrees.

“ We ’re working hard every day to control our own costs and keep rates competitive as we balance smart investments to strengthen the electric grid with the tough profitable climate we’re all passing, ” said Amy Spiller, chairman of Duke Energy Ohio/ Kentucky. “ We know how vital dependable electricity is to our guests, communities and region, and that energy is a significant yearly expenditure for our guests. We remain married to helping our guests who are passing fiscal difficulty. ”

Clean energy transition, increase in net rate base main motorists of request
As Duke Energy Kentucky continues to advance an orderly transition toward a dependable, clean energy future, the company is taking way to reduce, and ultimately exclude, its reliance on coal- fired generation and move toward low- or zero- carbon generation coffers.

“ A growing member of our marketable guests have come decreasingly clear on this content, ” said Spiller. “ They anticipate us to invest in cleaner power and are making profitable growth opinions grounded on those prospects. ”
With the energy transition, the company is proposing to acclimate the deprecation rates for the East Bend and Woodsdale Generating Stations, grounded on their likely remaining service lives.

Another primary motorist is the return on and of the company’s rate base. Since Duke Energy Kentucky’s last electric rate case was approved in April 2020, the company has made further than$ 300 million in investments to strengthen the electricity generation and delivery systems across Northern Kentucky. These data- driven investments were designed to ameliorate the system’s trustability and resiliency for guests and support cargo growth.
New Client benefits proposed

In moment’s form, Duke Energy Kentucky outlines colorful proffers to give guests more value, choices and convenience when it comes to their electric service and particular sustainability pretensions. These include
Two electric vehicle( EV) charging programs that include new tariffs for EV charging structure and a make-ready credit for guests wishing to install a new EV charging station.

A new, voluntary community- grounded solar program called Clean Energy Connection for guests wishing to invest in renewable energy coffers to meet sustainability pretensions.
Mollifying the effect of shifting energy costs through a medium to reduce volatility and offer guests further rate pungency.
Helping guests in need

With numerous individualities and families passing fiscal difficulty and floundering to pay their everyday charges, Duke Energy Kentucky continues to support its guests, connect them with available backing and offer tools and programs – including flexible payment plans and budget billing – to help manage their energy bills.

using its numerous hookups with original nonprofits and other associations across Greater Cincinnati, the company continues to reach out to guests with information about mileage backing administered by state agencies. fresh coffers can be set up thenduke-energy.com/help4you.

Additional information and coming way

Any rate changes approved by the PSC would be reflected in a client’s base rates, which is only one element of a Duke Energy Kentucky client’s electric bill. In the coming months, the PSC will completely review the rate case operation, host public meetings in Northern Kentucky to bandy the request and conduct a formal evidentiary hail in Frankfort. The company estimates that the PSC will rule on the company’s request by summer 2023, with rate adaptations taking effect around July 1, 2023.

fresh information about Duke Energy Kentucky’s request for a nonsupervisory review of its electric distribution rates can be set up atduke-energy.com/KYrates.

Duke Energy Ohio/ Kentucky

Duke Energy Ohio/ Kentucky, a attachment of Duke Energy, provides electric service to,000 domestic, marketable and artificial guests in a,000- forecourt- afar service area, and natural gas service to,000 guests in a,650- forecourt- afar service area, in Ohio and Kentucky.

Duke Energy( NYSE DUK), a Fortune 150 company headquartered in Charlotte,N.C., is one of America’s largest energy holding companies. Its electric serviceability serve8.2 million guests in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and inclusively own,000 megawatts of energy capacity. Its natural gas unit serves1.6 million guests in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs,000 people.

Duke Energy is executing an aggressive clean energy transition to achieve its pretensions of net- zero methane emigrations from its natural gas business by 2030 and net- zero carbon emigrations from electricity generation by 2050. The company has interim carbon emigration targets of at least 50 reduction from electric generation by 2030, 50 for compass 2 and certain compass 3 upstream and downstream emigrations by 2035, and 80 from electric generation by 2040. In addition, the company is investing in major electric grid advancements and energy storehouse, and exploring zero- emigration power generation technologies similar as hydrogen and advanced nuclear.

Duke Energy was named to Fortune’s 2022 “ World’s utmost respected Companies ” list and Forbes ’ “ World’s Stylish Employers ” list. further information is available atduke-energy.com. The Duke Energy News Center contains news releases, fact wastes, prints and vids. Duke Energy’s illumination features stories about people, inventions, community motifs and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

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