For Immediate Release
Contact: Matt Schilling
614 | 466 7750
COLUMBUS, OHIO (May 1, 2013) – The Public Utilities Commission of Ohio (PUCO) today adopted an agreement authorizing Duke Energy Ohio to increase its rates for electric distribution service by $49 million. A separate rate case related to the company’s natural gas distribution rates remains pending.
“The Commission’s duty is to balance the interest of those we regulate and that of the customer,” stated PUCO Chairman Todd A. Snitchler. “Today’s order ensures Duke is able to move forward providing adequate and reliable electric distribution service. The Commission is appreciative of the stakeholder and public feedback that contributed in reaching today’s decision.”
The approved stipulation allows Duke to increase baseline distribution revenues to cover its costs of providing services and establishes a return on equity of 9.84 percent. In addition, a provision that would have allowed Duke’s to establish a mechanism to fund mass transit facility relocations was removed.
Duke will also continue to provide $522,000 annually to People Working Cooperatively (PWC) weatherization, as well as contribute $350,000 annually through shareholder funds to Ohio Partners for Affordable Energy (OPAE) to establish a fuel fund.
On July 9, 2012, Duke filed an application to increase rates for electric distribution service seeking to increase revenues by approximately $86 million, citing insufficient revenue to cover its costs of providing electric distribution services. This February, four public hearings were held throughout Duke’s service territory, in which the PUCO heard testimony from 75 Duke customers.
On April 2, 2013, several parties to the case filed a stipulation resolving all outstanding issues in the proceedings. The stipulation was signed by PUCO staff, Duke, the Ohio Consumers’ Counsel, OPAE, The Greater Cincinnati Health Council, Cincinnati Bell, Kroger, Direct Energy, PWC and the Ohio Environmental Council.
The new rates will become effective when Duke files tariffs consistent with today’s decision. A copy of today’s Commission opinion and order is available at www.PUCO.ohio.gov. Click on the link to Docketing Information System and enter the case number 12-1682-EL-AIR.
The Public Utilities Commission of Ohio (PUCO) is the sole agency charged with regulating public utility service. The role of the PUCO is to assure all residential, business, and industrial consumers have access to adequate, safe and reliable utility services at fair prices while facilitating an environment that provides competitive choices. Consumers with utility-related questions or concerns can call the PUCO Call Center at (800) 686-PUCO (7826) and speak with a representative.
Subscribe and unsubscribe to the PUCO Media Release email service