{"data":{"id":"us-ky/krs-278.290","jurisdiction":"us-ky","citation":"KRS 278.290","heading":"Valuation of utility property in connection with rates, service or issuance","body":"of securities -- Unit rate base.\n(1) Subject to the provisions of subsection (2) of this section, the commission may\nascertain and fix the value of the whole or any part of th e property of any utility in\nso far as the value is material to the exercise of the jurisdiction of the commission,\nand may make revaluations from time to time and ascertain the value of all new\nconstruction, extensions and additions to the property of the  utility. In fixing the\nvalue of any property under this subsection, the commission shall give due\nconsideration to the history and development of the utility and its property, original\ncost, cost of reproduction as a going concern, capital structure, and other elements\nof value recognized by the law of the land for rate-making purposes.\n(2) The commission shall not value or revalue the property of any utility unless the\nvaluation or revaluation is necessary or advisable in order to determine the legality\nor reasonableness of any rate or service or of the issuance of securities, and then\nonly after an investigation affecting the rate, service or securities has been instituted\nby the commission upon complaint or application or upon its own motion, and a\nhearing has been held on reasonable notice.\n(3) In any rate investigation where the utility serves two (2) or more municipalities, the\ncommission may, in computing the rate of return on the property used and useful,\ntake as the base for the computation the valuation of the system as a whole, but may\nmake a differential in the case of an individual municipality in proportion to the\nincreased cost of service, if the utility can show that such a differential should be\nallowed.","path":["KRS Chapter 278"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14102","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:30Z","sha256":"1e30e4746e0b06e475ce67547cfd4ddb58417c35d1914a39b0840046b0c3e7a6","source_id":"us-ky","stale":false,"prev":"us-ky/krs-278.287","next":"us-ky/krs-278.295"},"notice":"GroundRules: Original legal text. Not legal advice."}