LOUISVILLE, Ky. — Kentucky Attorney General Russell Coleman announced Tuesday that he has reached a proposed settlement with East Kentucky Power Cooperative (EKPC) as part of the state’s effort to push back against rising electricity costs nationwide.
Under the agreement, residential customers will see their monthly bills rise by less than $5.
EKPC also agreed not to request another rate increase for families for at least three years.
Settlement proceeds will support a $2 billion investment plan that includes building two new power stations in the region and upgrading an existing coal plant to operate with a mix of coal and natural gas.
The settlement now moves to the Public Service Commission for approval.