This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Duke Energy Ohio Reaches Agreement In Electric And Natural Gas Distribution Rate Cases

Stocks in this article: DUK

CINCINNATI, April 2, 2013 /PRNewswire/ -- Duke Energy Ohio has reached an agreement with all intervening parties, including the Staff of the Public Utilities Commission of Ohio (PUCO), concerning the company's request to increase the rates Ohio customers pay for electric and natural gas distribution service.

(Logo: )

Under the terms of the settlement, the net annualized increase for electric distribution service would be a $49 million revenue adjustment with no revenue adjustment for natural gas distribution service. For electric customers, this translates to an average annual increase of 2.9 percent. The typical Ohio residential electric customer would see an increase in their bill of $3.72 a month. 

Major components of the settlement:The settlement includes the following key components:

  • A return on equity (ROE) of 9.84 percent for both the electric and natural gas distribution cases
  • A capital structure of 53.3 percent equity and 46.7 percent debt, consistent with the company's existing capital structure
  • Provide ongoing funding of low income weatherization programs and a fuel fund, in the amount of $700,000 per year, funded by shareholders
  • Acceptance of the commission staff's recommendation to deny the facilities relocation rider  

The settlement does not resolve all issues related to the natural gas distribution case. The parties to the agreement will litigate the recovery of costs to comply with environmental requirements impacting the company's former manufactured gas plant (MGP) sites.  

The settlement is subject to the review and approval of the PUCO. Settlement hearings are scheduled to begin April 3, 2013, while hearings on the recovery of MGP remediation costs are expected to begin April 29, 2013.

If approved, revised electric distribution rates are expected to be implemented by mid-year.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs