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Article: KENTUCKY PUBLIC SERVICE COMMISSION ACCEPTS SETTLEMENT IN FARMERS RURAL ELECTRIC COOPERATIVE CORPORATION RATE CASE
- Article from:
- US Fed News Service, Including US State News
- Article date:
- July 30, 2009
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FRANKFORT, Ky., June 10 -- The Kentucky Public Service Commission issued the following news release:
The Kentucky Public Service Commission (PSC) has accepted a settlement that permits Farmers Rural Electric Cooperative Corp. to raise its rates in order to increase its annual revenue by $3.69 million, or about 9.8 percent.
Farmers negotiated the settlement - which gives the rural electric cooperative about $350,000 less in annual revenue than it requested - with the Office of Attorney General.
Farmers applied to the PSC for the rate increase in January 2009. During the course of the PSC's examination of the application, the utility and the Attorney General began settlement negotiations. The ...