OWENSBORO, Ky. (WEVV) — The Owensboro Utility Commission approved an energy cost adjustment rate increase during its meeting on Thursday.

The commission voted 4-1 to raise the rate from 1.54 cents per kilowatt hour to 2.47 cents per kilowatt hour.

This adjustment is expected to increase the average residential Owensboro Municipal Utilities (OMU) customer bill by about $8.50 a month.

The increase aims to help recover costs associated with OMU's power supply expenses.

OMU anticipates paying less than $50 million for power in the fiscal year 2026, with costs potentially rising to about $70 million by fiscal year 2031.

The adjustment will begin appearing on customers' bills in October.

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