Duke Energy Ohio cites 12% bill surge and files $250 M rate case
Duke Energy Ohio president said residential electric bills rose 12% year-over-year last quarter due to elevated natural gas and power supply costs and has submitted a $250 million rate case with the state commission. In its Q4 earnings call, Duke Energy reported $0.94 adjusted EPS on $7.2 billion revenue, citing stable cash flow despite rising O&M expenses.
1. Rising Customer Bills and Rate Case
Duke Energy Ohio president highlighted a 12% year-over-year increase in residential electric bills during the latest quarter, attributing the rise to elevated natural gas and wholesale power supply costs. To offset these expenses and fund planned grid upgrades, the company filed a $250 million rate case with the Public Utilities Commission of Ohio, targeting cost recovery over the next two years.
2. Q4 Earnings Highlights
During the fourth-quarter earnings call, Duke Energy delivered adjusted earnings of $0.94 per share on revenue of $7.2 billion, marginally ahead of internal projections. Management noted steady cash flow generation but flagged rising operations and maintenance spending and ongoing regulatory reviews as key factors for full-year outlook considerations.