Duke Energy Carolinas lowers rate hike request from 11.6%

Duke Energy Carolinas reduced its requested rate increase to 3.7% over two years after a settlement with Public Staff and consumer advocacy groups. The adjustment includes lowering the utility's return on equity by 11% and removing $173.2 million in large-load interconnection projects from the current rate case, with potential refunds for customers if infrastructure delays occur. The settlement also establishes a framework for handling large energy users and requires quarterly project updates.