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Ky. PSC accepts settlement in electric rate case

FRANKFORT, Ky. (AP) -- Some eastern Kentucky residents are paying for more electric under a settlement accepted by the Public Service Commission.

A statement from the PSC on Friday says the panel approved the agreement on Wednesday between Big Sandy Rural Electric Cooperative Corp. and the attorney general's office.

Under the settlement, Big Sandy RECC will still increase its annual revenue by 3.7 percent, but it will raise the funding differently than first proposed. Under the agreement, the utility will charge more for usage-based energy than for the flat monthly customer charge. Rates will increase for all customers.

Big Sandy RECC, which said it needed the additional revenue to maintain its financial integrity, has about 13,000 customers in Breathitt, Floyd, Johnson, Knott, Lawrence, Magoffin, Martin and Morgan counties.