Fourth Quarter 2023 Earnings Review and Business Update
Current electric rate information by jurisdiction (continued)
General Rate Case
Provisions
North
Carolina
South
Carolina
Florida
Indiana
Ohio
(Electric)
Kentucky
(Electric)
Notice of Intent Required?
Yes
Yes
Yes
Yes(1)
Yes
Yes
Notice Period
30 Days
30 Days
60 Days
30 Days(2)
30 Days
30 Days
Base Rate Case Test Year
Historical(3)
Historical (3)
Projected
Optional (4)
Partially Projected
Forecast Optional
Multi-Year Rate Plan
Yes(5)
No
Yes
No
No
No
Only under multi-
Time Limitation Between Cases
12 months
No
15 Months
No
No
year rate plan
Rates Effective
Subject to Refund
7 Months
After Filing
6 Months
After Filing (6)
8 Months
After Filing
10 Months
After Filing (7)
9 Months
After Filing
6 Months
After Filing (8)
(1) IURC recommended procedure. Not a statutory requirement
(2) As least 30 days to avoid ex parte issues
(3)
Historical, adjusted for known and measurable changes
(4) Utilities may elect to a historical test period, a forward-looking test period, or a hybrid test year in the context of a general rate case
(5) Multi-year Rate Plans in NC include projected capital spending projects and their associated O&M for up to 3 years, with a cap on the annual increase of 4%
(6) If the South Carolina Commission fails to rule on a rate case filing within 6 months, the new rates can be implemented and are not subject to refund. There is a grace period here. The Company would
have to notify the Commission that it planned to put rates in, and the Commission would then have 10 additional days to issue an order
(7) The utility may implement interim rates, subject to refund, if the IURC has not rendered a decision within 10 months of filing (can be extended 60 days by IURC). The interim rates are not to exceed 50%
of the original request
(8) The effective date is 7 months after filing for a forecasted test year
DUKE
ENERGY FOURTH QUARTER 2023 EARNINGS REVIEW AND BUSINESS UPDATE
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