The Public Service Commission approved a $40 million rate increase for Duke Energy in an order last week. It would see its customers pay around $12.51 extra each month for every 1,000 kilowatt-hours of energy. That would increase the average bill by around 10%, from $124.64 to $137.15 each month.
Duke Energy says they need the extra revenue to make improvements to its local power grid, and to accommodate growing demand in the Cincinnati suburbs.
Spokesperson Matt Martin says that includes efforts to protect the grid from more frequent severe weather events amid climate change.
“It isn't just related to major storms, but also when we see significant cold weather in the winter months and significant hot weather in the summer months, which we have seen both this year,” Martin said.
Martin says the utility is using the money for infrastructural projects. That includes implementing “self-healing technology,” which automatically reroutes power during outages, replacing wooden poles with steel and undergrounding wires in certain areas.
The rate increase would affect around 150,000 Duke Energy customers across Boone, Campbell, Grant, Kenton and Pendleton Counties.
“In northern Kentucky, we are continuing to see… a pretty high demand for people wanting to transition and move to those areas, businesses coming and relocating to those areas, especially in Boone and Kenton counties, Covington and Newport certainly as well,” Martin said.
Martin said those struggling with high utility bills can apply for one of their programs to help ease the financial strain, including payment plans, due date extensions and a community fund for low-income customers.
