Duke Energy Florida settles rate case: $203M base rate increase in 2025, ROE midpoint 10.3%

Duke Energy CORP

Base rate increase of $203M in 2025 and $59M in 2026; $50M ITCs in lieu of 2027 increase.
ROE band 9.3%-11.3% with 10.3% midpoint; capital structure 53% equity, 47% debt.
12 new solar plants totaling 900 MW to be recovered via Solar Base Rate Adjustment (SOBRA) mechanism.
Settlement subject to FPSC approval; hearing window Aug 12–23, 2024.
No material immediate accounting impacts from the settlement.

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