RegulatoryAug 5, 2026, 04:37 PM
Duke Energy Progress Settles Rate Case; Annual Increase 3.4%
AI Summary
Duke Energy Progress (DEP) has filed a Comprehensive Revenue Requirement Settlement with the Public Staff – North Carolina Utilities Commission and other intervenors. The settlement resolves all revenue requirement items, including an agreed return on equity of 9.8% and a retail rate base of approximately $17.8 billion. This agreement is expected to result in a revised revenue requirement increase of $338 million over two years, representing an average annual rate increase of 3.4%. The settlement is subject to NCUC review and approval, with an evidentiary hearing scheduled for August 11, 2026.
Key Highlights
- Comprehensive Settlement resolves revenue requirement issues for Duke Energy Progress.
- Agreed return on equity (ROE) of 9.8% with a 53% equity component in capital structure.
- Retail rate base of approximately $17.8 billion for the historic base case.
- Multi-year rate plan (MYRP) includes approximately $3.4 billion of capital.
- Expected one-time pre-tax accounting charges of approximately $30 million in 2026.
- Increased production tax credit (PTC) flow back to customers from $40 million to $120 million annually.
- Revised revenue requirement increase of $338 million over two years, averaging 3.4% annually.
- Company will evaluate delaying next base rate case filing until November 1, 2028.
Price Impact
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