The Public Service Commission has denied a bid by Kentucky's two largest electric utilities to install "smart" meters in homes across the state.
The state agency said in an order on Thursday that while it sees benefits of using the technology, the utilities failed to show that the costs were worth it. The utilities had proposed installing about 1.3 million smart meters over a three-year period at a cost of nearly $350 million.
In its order, the commission noted that customers were being asked to pay for the new system but the utilities did not commit to passing on savings from smart meters to their customers.
The agency denied the application without prejudice, meaning the utilities could submit a similar plan in the future.
