Kentucky American Water is seeking to increase its overall rate by 22 percent, which would generate about $19.8 million per year.
The Lexington Herald-Leader reported Wednesday that the utility company has filed a rate increase application with the state Public Service Commission. A company statement says it has spent more than $100 million on infrastructure upgrades and needs the rate increase to pay for them.
The company seeks to increase residential customer rates by 24 percent, or about $7.50 per month. It seeks to raise commercial property rates by 28 percent, or about $46 per month. The company last filed for a rate increase in 2016, and the PSC granted it an overall rate increase of 7.2 percent. The company serves 14 counties in central Kentucky.