Duke Energy Subsidiary Reaches Agreement on Rates

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

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

Duke Energy originally requested an average increase in retail revenues of 9.7% or approximately $446 million. To further reduce the impact to its customers, the company has agreed to implement the rate increase over time.

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



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This article appears in: Investing , Commodities

Referenced Stocks: DUK

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