| ||||||||||
 
Dr. Ronald P. Rogers CHIROPRACTOR Support for your body's natural healing capabilities 270-384-5554 Click here for details 
  
Columbia Gas Dept. GAS LEAK or GAS SMELL Contact Numbers 24 hrs/ 365 days 270-384-2006 or 9-1-1 Call before you dig 
Visit ColumbiaMagazine's Directory of Churches Addresses, times, phone numbers and more for churches in Adair County Find Great Stuff in ColumbiaMagazine's Classified Ads Antiques, Help Wanted, Autos, Real Estate, Legal Notices, More... 
|
PSC cuts KU and LG&E bills to reflect tax changes As a result of the revenue reduction, KU and LG&E residential electric customers will see their average monthly bills decrease by about 6 percent, while LG&E residential natural gas customers will see about a 4.5 percent reduction in the base rate portion (not including the commodity cost of gas) of their bills. Click on headline for complete story Story from Kentucky Press News Service Frankfort, KY (20 Mar 2018) – The Kentucky Public Service Commission has reduced the total annual revenue of the Kentucky Utilities Co. (KU) and of Louisville Gas & Electric. Co. (LG&E) by $203.8 million to reflect the reduction in federal corporate income taxes that took effect at the first of the year. As a result of the revenue reduction, KU and LG&E residential electric customers will see their average monthly bills decrease by about 6 percent, while LG&E residential natural gas customers will see about a 4.5 percent reduction in the base rate portion (not including the commodity cost of gas) of their bills. In an order issued Tuesday, the PSC modified a settlement reached between the two utilities and the Kentucky Industrial Utility Customers, Inc. (KIUC), which had filed a case seeking a tax reduction, and the Kentucky Office of Attorney General, which also was a party to the case. The settlement called for a total revenue decrease of $176.9 million, a PSC news release said. The reduction ordered by the PSC is $26.9 million larger because of modifications it made to the manner in which the impact of the tax reduction was calculated. The federal tax law enacted in December reduced the corporate income tax rate from 35 percent to 21 percent beginning this year, substantially reducing the tax burden on for-profit, investor-owned utilities. The reduced tax burden in turn reduces the amount of revenue that utilities need in order to offer their investors an opportunity to earn a reasonable rate of return. KIUC filed cases against LG&E and KU, as well as Duke Energy Kentucky and Kentucky Power Co., seeking reductions in rates that would reflect the lower taxes. The PSC opened similar cases to examine the effect of the tax changes on other investor-owned utilities. Most of the tax bill’s impacts fall into two areas: savings from the immediate reduction in the corporate tax rate and the effect on deferred tax liabilities that utilities carry on their books and that may need to be refunded to ratepayers. The KU and LG&E case addresses both. The revenue reduction will be reflected in a credit, the Tax Cut and Jobs Act (TCJA) Surcredit, that will appear on KU and LG&E customer bills. The TJCA Surcredit will take effect April 1, 2018, and will extend through April 30, 2019. It will reflect both ongoing tax savings and an additional credit for the first three months of this year. The credit expires on April 30, 2019, because KU and LG&E have indicated that they intend to file for rate adjustments that will, among other things, reflect the changes in the federal corporate income tax. The timing of the filing will be such that the new rates would take effect May 1, 2019. If LKU and LG&E rates do not change at that time, the TJCA Surcredit would remain in place, but would be recalculated. The tax changes also will result in slight reductions in surcharges that include a capital cost component. They include environmental surcharges and demand-side management surcharges for KU and LG&E electric customers, and a gas-line-replacement surcharge assessed to LG&E natural gas customers, the news release said. KU and LG&E are the first utilities in Kentucky whose rates have been readjusted to fully reflect the effect of the federal corporate income tax reduction. The PSC in January issued a final order adjusting the rates of Kentucky Power Co. But it reflected only the impact of current tax payment and did not address the question of deferred taxes, which are being dealt with in a separate proceeding. The PSC has indicated that the full impact of the tax changes on the electric rates of Duke Energy Kentucky will be addressed in that utility’s current electric rate case. Duke Energy Kentucky’s natural gas rates are being addressed separately. Tuesday’s order and other records in the case are available on the PSC website, psc.ky.gov. The case number is 2018-00034. The other utilities with pending cases examining tax law impacts are Kentucky Power (2018-00035), Duke Energy Kentucky gas (2018-00036), Atmos Energy Corp. (2018-00039), Delta Gas Co. (2018-00040), Columbia Gas of Kentucky (2018-00041), Kentucky-American Water Co. (2018-00042), Water Service Corp. of Kentucky (2018-00043), and WKG Storage (2018-00064). The Duke Energy Kentucky electric rate case is 2017-00321. An order has been issued in the Atmos Energy tax case, with additional tax issues to be addressed in the utility’s pending base rate case (2017-00349). This story was posted on 2018-03-21 05:55:30
Printable: this page is now automatically formatted for printing.
Have comments or corrections for this story? Use our contact form and let us know. More articles from topic Kentucky:
Sen. Max Wise's Legislative Update - Fri 16 Mar 2018 Natural gas line rupture near school results in $395,000 PSC fine Unemployment down in all local counties in January 2018 Family endows Keith MacAdam fund for KY Nature Preserves Beaver Dam rest area grand opening 16 Mar 2018 Robert Cumming: ID of body found on Lake Cumberland Homemade Tramadol capsule case results in prison term - Owensboro, KY DLG accepting 2018 applications for Conservation Fund grants London, KY man receives 20 year term for meth trafficking Kentucky defendants prosecuted as part of nationwide takedown View even more articles in topic Kentucky |
 
115 Jamestown St. Columbia, KY. 270-384-2496 
  
   
 Provided by the Adair Co Fiscal Court and the Adair Co. Emergency Mgt. Agency 
|
||||||||
|
| ||||||||||
|
Quick Links to Popular Features
Looking for a story or picture? Try our Photo Archive or our Stories Archive for all the information that's appeared on ColumbiaMagazine.com. | ||||||||||
|
Contact us: Columbia Magazine and columbiamagazine.com are published by Linda Waggener and Pen Waggener, PO Box 906, Columbia, KY 42728. Please use our contact page, or send questions about technical issues with this site to webmaster@columbiamagazine.com. All logos and trademarks used on this site are property of their respective owners. All comments remain the property and responsibility of their posters, all articles and photos remain the property of their creators, and all the rest is copyright 1995-Present by Columbia Magazine. Privacy policy: use of this site requires no sharing of information. Voluntarily shared information may be published and made available to the public on this site and/or stored electronically. Anonymous submissions will be subject to additional verification. Cookies are not required to use our site. However, if you have cookies enabled in your web browser, some of our advertisers may use cookies for interest-based advertising across multiple domains. For more information about third-party advertising, visit the NAI web privacy site.
| ||||||||||
