LOUISVILLE, Ky. (AP) — Two of Kentucky’s largest utilities plan petition the state for 2 percent rate increases for electricity, saying the money is necessary to upgrade equipment.

Louisville Gas & Electric and it’s sister company, Kentucky Utilities, say if the increases are granted by the Kentucky Public Service Commission, new rates could take effect as early as February.

LG&E also plans to ask for a 6 percent increase for natural gas. Kentucky Utilities does not sell natural gas. The increases would add about $16 to a typical LG&E customer’s monthly bill.

For Kentucky Utilities customers, the rate hike would mean $4.50 more a month on an average bill.
The formal rate hike request will go to the Public Service Commission on July 29.