The Kentucky Public Service Commission accepted a settlement increasing the base electric and natural gas rates for Kentucky Utilities Company and Louisville Gas and Electric Company customers. The rate increases take effect Jan. 1. The average monthly bill for a KU residential customer will increase around $5. LG&E electric customers can expect around a $4 increase and natural gas customers a $5.50 increase.
The Tennessee Valley Authority's reliance on coal has dropped and the use of natural gas as fuel to generate electricity has increased. The Commercial Appeal reports TVA's use of gas climbed 70 percent in the fiscal year ended September 30. At the same time, coal-fired generation declined 30 percent from fiscal year 2011.
Nearly 700 employees at an aluminum smelter in Hawesville may lose their jobs because the power costs to operate the plant are too high. Century Aluminum Company says it gave a 12-month notice Monday to terminate its power contract with Big Rivers Electric Corp.
The Tennessee Valley Authority will keep electricity rates the same for customers in the coming fiscal year. TVA's board of directors voted today to approve an over eleven billion dollar budget without raising rate hikes for the fiscal year that begins October 1st. The federal utility provides electricity to 9 million people in seven states, including Kentucky and Tennessee. TVA CEO Tom Kilgore also announced at the meeting that he will be retiring after 6 years in the position.
A 5 percent increase in electricity sales from hot weather this summer has boosted the Tennessee Valley Authority’s profits this quarter. But it wasn’t enough to offset the 5.9 percent drop that came with last winter’s mild patterns. TVA officials couldn't say whether they'd increase power rates at the start of the new fiscal year in October until after its board meets later this month.