Kentucky American Water has filed a rate request with the Kentucky Public Service Commission for new rates, citing over $212 million in system investments. The request includes the replacement of 30 miles of aging water pipelines and upgrades to storage tanks, pumping stations, hydrants, and meters.
The company is seeking a total annual revenue increase of approximately $26.9 million, excluding qualified infrastructure program revenues that have already been approved. If approved, the water bill for the average residential customer using 3,900 gallons per month would increase by about $9 per month.
Kentucky American Water's last general rate case was filed in June 2023. The company anticipates that proposed rates will go into effect on an interim basis approximately seven months after the filing, with the final decision regarding any change in rates to be made within 10 months of the filing.
American Water, the parent company of Kentucky American Water, is the largest regulated water and wastewater utility company in the United States, providing services to more than 14 million people in 14 states and 18 military installations. As a result of these announcements, the company's shares have moved 1.56% on the market, and are now trading at a price of $142.56. If you want to know more, read the company's complete 8-K report here.
