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Duke Energy, Florida public counsel say they’ve settled rate hike spat

By Bruce Ritchie | 07/09/2024 06:48 AM EDT

If Duke’s original request is approved, the utility would be allowed to collect an additional $2.1 billion over three years from its 2 million customers.

High voltage power lines run through a sub-station along the electrical power grid on May 16, 2024, in Pembroke Pines, Florida.

High-voltage power lines run through a substation along the electrical power grid on May 16 in Pembroke Pines, Florida. Joe Raedle/Getty Images

TALLAHASSEE, Florida — Duke Energy Florida and the Office of Public Counsel on Monday told state regulators they have reached an agreement to settle their dispute over the utility’s $830 million rate hike request.

The utility and OPC with the Public Service Commission to suspend the procedural schedule in the contentious case.

“The Joint Parties reached a comprehensive agreement in principle, and the Joint Parties require additional time to prepare a formal Settlement Agreement that memorializes the terms,” the motion said.

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Public Counsel Walt Trierweiler told POLITICO on Monday he could not comment on the substance of the agreement. He said the settlement agreement could take two weeks or more to finalize. He didn’t respond to a question about whether other intervening business and energy justice groups will sign onto the settlement agreement.

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