Duke Energy agrees with North Carolina Public Staff on rate case

Duke Energy Carolinas, a unit of Duke Energy, reached an agreement with the North Carolina Public Staff concerning the utility's request to raise base rates.

The settlement includes a significant reduction in the rate increase to customers, while providing a fair return for the company's investors, according to Duke Energy.

Under the terms of the settlement, the increase to the company's revenue is reduced to about $205 million in the first two years, with customer rates increasing an additional $30 million (for a cumulative increase of about $235 million) beginning in year three.

Duke Energy originally requested an average increase in retail revenues of 9.7 percent or about $446 million. The company has agreed to implement the rate increase over time.

During the first two years, the average increase will be about 4.5 percent. After that, rates will increase by an additional 0.6 percent for a total average increase of about 5.1 percent.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs