The Kentucky Public Service Commission has approved an immediate reduction of rates for a natural gas supplier serving much of Eastern Kentucky and additional relief could be coming later this year. As it has for a number of utilities, the PSC has been investigating what impact last year’s tax cuts should have on Columbia Gas of Kentucky. Yesterday, it approved interim rates that are 22 cents lower per 1,000 cubic feet of natural gas. That would translate to a savings of $2.20 for an average residential customer using 10,000 cubic feet for heating in the winter. However, yesterday’s ruling only addresses current corporate income taxes, and not additional savings from other aspects of the tax plan. The PSC will revisit the matter on Sept. 1, in order to establish new rates by Oct. 1.
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