LOUISVILLE, Ky. (AP) — The Kentucky Public Service Commission has approved compliance plans totaling nearly $1 billion by the state's two largest utility companies to close and cap ponds that store coal ash from power plants.
The agency says in a release that the settlement approved Monday reduces the initial electric bill increases for customers of Kentucky Utilities. For those customers, the rate hikes will peak in 2022, three years later than the original proposal. For Louisville Gas & Electric customers, the highest increase is in 2020.
Kentucky Utilities will spend $675 million to meet new federal environmental requirements for coal ash ponds at five sites. LG&E will spend more than $300 million to cap ash ponds at Mill Creek and Trimble County generating stations.
The two utilities combine for about 900,000 customers.