JEFFERSON CITY, Mo. (AP) — State regulators have approved a $32.5 million rate increase for Kansas City Power & Light to offset the utility's costs of providing service.
The Missouri Public Service Commission announced Tuesday the rate increase would cost the average residential customer about $4 a month.
The utility in July had sought an increase of $90.1 million, saying it needed the increased revenue to recover money spent upgrading the company's infrastructure, adding regional transmission lines and complying with environmental and cybersecurity rules.
The decision also continues a fuel adjustment clause that allows KCP&L to adjust customer bills up to twice a year to reflect any change in its fuel and purchased power costs. The utility also will continue a low-income residential customer assistance program.
KCPL serves about 272,800 electric customers in Missouri.