KANSAS (KSNT) - ONE Gas Inc., the parent company of the Kansas Gas Service (KGS), announced its revenue increase was primarily due to new gas rates. ONE Gas Inc. announced its third-quarter financial results on Nov. 4. The company reported it had a revenue increase of $43.3 million attributed to new gas rates totaling $274.8 million in 2024 as compared to $270.5 million in 2023. As part of the financial report, the company announced its shareholders would receive a dividend payment of $0.66 per share on Dec. 4. In 2024, ONE Gas paid $112,064,000 in dividends to shareholders. Rate hike listed as biggest driver of Evergy earnings “Through company-wide effort and focused execution, we have raised and narrowed our 2024 financial guidance, all while maintaining a healthy balance sheet,” said Robert S. McAnnally, president and chief executive officer in the financial report. “As we approach the end of the year, we are poised to deliver strong financial results, serve our customers and strategically position the company for the opportunities that lie ahead.” In March, the KGS filed a request with the KGS to increase its rates. The filing requested an increase in base rates of $58 million. According to the Securities Exchange Commission (SEC) filing, the increase would've raised bills by $6.71-9.48. On Oct. 3, the Kansas Corporation Commission approved KGS's request for a rate increase but capped the settlement to $35 million instead of the original $58 million. The settlement means KGS customers with average use will see their bills increase by $3.83 per month or $46.02 per year. Topeka vehicle damage payouts rise for third year in a row According to the SEC filing, KGS was already recovering $35 million from customers through the Gas System Reliability Surcharge (GSRS) filings, bringing the settlement total to $70 million. According to the Kansas Corporation Commission, GSRS is a monthly charge intended to recover the costs associated with pipeline safety. 27 News reached out to One Gas Inc. for comment and received the following response on Dec. 17: "Our quarterly earnings report reflects $43.3 million in revenue from new rates across all three states. In 2024, our regulators approved these new rates, which help pay for the investments already made by the company and allow the utility to continue investing in its system. These investments include upgrading infrastructure and extending natural gas service to new customers as economic development draws more people to our service territory." One Gas Inc. spokeswoman For more local news, click here. Keep up with the latest breaking news in northeast Kansas by downloading our mobile app and by signing up for our news email alerts. Sign up for our Storm Track Weather app by clicking here.