HB342: AN ACT relating to utility rates.

Legislative Summary

Amend KRS 278.030 to include rate affordability when determining fair, just, and reasonable utility rates; allow the Public Service Commission to review the affordability of a utility's rate if the utility has not requested a rate adjustment within the last five years; allow the commission to order a rate increase to prevent significant increases in a single period; require affordable, fair, just, and reasonable rates to balance the interests of the utility, its investors, and the ratepayer.