TOPEKA, Kan. (AP) - Kansas regulators have approved a 7 percent rate increase for the state's largest natural gas company that will generate $28 million a year in new revenues for the utility.
The Kansas Corporation Commission said a legal settlement it accepted Wednesday will raise bills for average residential customers of Kansas Gas Service by less than $2 a month.
The settlement was reached in October by the company, the KCC's staff and other parties. They included the Citizens' Utility Ratepayers Board, a state agency representing residential customers and small businesses.
The agreement will allow Kansas Gas Service to earn a pretax profit of 10.6 percent on its operations.
The company originally sought a rate increase of nearly $51 million. It has about 632,000 customers in Kansas.