AP News, T&D, Transmission

Duke Energy’s desired rate changes nearing approval in NC

RALEIGH, N.C. (AP) — A measure now one step from final legislative approval in North Carolina retains provisions that would let Duke Energy Corp. seek multiyear electric rates from state regulators.

The Senate voted 26-16 on Wednesday for a bill worked out between House and Senate negotiators. House debate and a vote won’t occur until at least next week. A final, approved bill would be subject to Gov. Roy Cooper’s veto.

An earlier version of the measure pushed through the House in August tried to hold back the multiyear option and giving the electric utility some profit-margin flexibility by ordering studies on those topics instead.

Supporters of the regulatory changes say additional alterations will protect consumers by earmarking certain excess profits toward initiatives that benefit low-income consumers, followed by ultimately refunding ratepayers.