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.
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