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Public Service Commission Accepts LG&E, KU Settlement

The Public Service Commission announced today that it has accepted the settlement reached by Louisville Gas & Electric, Kentucky Utilities and various other parties in a rate case.The utilities were seeking PSC approval of $2.5 billion in costs to comply with upcoming federal regulations, and wanted to recover those costs from ratepayers.Under the settlement, rates will increase by about 18.3 percent for LG&E customers by 2016  and 9.65 percent for KU customers.Will be updated.