Duke Energy Carolinas reaches partial rate case settlement; expects $30-40M pre-tax Q3 charge

Duke Energy CORP

Partial stipulation with NC Public Staff on rate base, MYRP capital ($4.6B), depreciation, and GIP cost recovery.
Agreed historic rate base of ~$19.5B; total revenue increase request after stipulation is $824M over 3 years (15.7% cumulative).
Grid Improvement Plan deferred costs to be recovered over 18 yrs with debt return during deferral, full WACC return during amortization.
Unresolved issues include ROE, capital structure, COVID-19 cost recovery, and storm balancing account; hearing starts Aug 28, 2023.
Duke Energy Plaza capital costs reduced by $50M; one-time charge of $30–40M related to updated coal plant retirement dates.

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