Duke Energy Requests Rate Increase to Recover Winter Power Costs
Duke Energy is seeking regulatory approval to recover nearly $800 million in fuel and purchased power costs incurred during a severe winter that drove record electricity demand. The company had to buy expensive power from external suppliers to maintain service, and if approved, residential customers could see monthly bill increases starting in June. The situation highlights challenges for U.S. utilities in balancing reliability with volatile demand.
Tickers: $DUK
Topics: energy rate hike regulatory approval utility costs winter weather