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Duke Energy push to set NC prices for multiple years stalls

August 20, 2019

RALEIGH, N.C. (AP) — The country’s largest electric company faces a setback as it pushes North Carolina for the chance to line up profitable infrastructure projects years into the future and bypass lengthy regulatory battles.

The state House amended legislation Tuesday that represents one of Duke Energy Corp.’s chief goals this year. The bill allowing multi-year rates now says the issue should be studied until next spring.

The idea of multi-year rate-setting comes after state utilities regulators last year wouldn’t approve a $13 billion, 10-year Duke Energy proposal on electricity grip updates with profit margins tacked on. The Charlotte-based company also projects charging consumers up to $10 billion for coal-ash cleanup lasting a decade or more.

The bill now returns to the Senate, which can agree with the changes or force further negotiations.

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