Duke Energy's subsidiary, Duke Energy Carolinas (DEC), has filed a comprehensive settlement agreement with the North Carolina Utilities Commission (NCUC) Public Staff regarding its November 2025 rate case application. The settlement, which resolves all remaining revenue requirement issues, will result in a revised revenue increase of $496 million over a two-year period, representing an average annual rate increase of 3.7%.
Key Details
- Financial Terms: The settlement establishes a 9.8% return on equity (ROE) based on a 53% equity component in the capital structure.
- Rate Base & Capital: It includes a retail rate base of approximately $25.7 billion and a Multi-Year Rate Plan (MYRP) with approximately $3.8 billion in capital investments.
- Financial Impact: The agreement is expected to cause a one-time, pre-tax accounting charge of approximately $40 million to be recognized in 2026, which will be excluded from adjusted earnings.
- Future Rate Case: Duke Energy will evaluate delaying its next base rate case filing until no earlier than November 1, 2028, contingent on NCUC approval for deferring certain new asset costs.