Summary
Duke Energy Progress, LLC, a subsidiary of Duke Energy Corporation (DUK), has filed a rate case with the North Carolina Utilities Commission (NCUC) seeking an average retail revenue increase of 14.9%, which translates to approximately $477 million. This request is based on a proposed rate of return of 7.66%, including a 10.75% return on equity. The filing is supported by a North Carolina rate base of $8.1 billion as of December 31, 2016, adjusted for subsequent known and measurable changes.
Key Highlights
- 1Duke Energy Progress filed a rate case with the NCUC on May 31, 2017.
- 2The company is requesting an average retail revenue increase of 14.9% in North Carolina.
- 3The proposed revenue increase amounts to approximately $477 million.
- 4The requested rate of return is 7.66%, with a proposed return on equity of 10.75%.
- 5The rate base considered for the filing is $8.1 billion as of December 31, 2016, with adjustments for 2017.
- 6Hearings are anticipated to begin in late 2017.
- 7If approved, new rates would likely become effective on January 1, 2018.