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Duke Energy Says Regulators' Order Could Mean 1.2 Percent Rate Increase

Duke Energy headquarters in Charlotte.
Duke Energy headquarters in Charlotte.
Duke Energy headquarters in Charlotte.
Duke Energy headquarters in Charlotte.

Duke Energy says state regulators' Friday order denying its request for a rate hike in its western North Carolina territory could still mean a small rate increase for customers. 

In a federal regulatory filing Monday, the company estimates the order will result in an immediate rate decrease of 0.1 percent, then a 1.2 percent increase after four years. 

New rates are expected to take effect in mid-July.  

Meanwhile, Duke told investors in the filing it expects to take a $150 million charge against profits in the second quarter for two other items in Friday's order: a $70 million penalty related to coal ash cleanups and regulators' decision to disallow a profit on costs related to the canceled Lee Nuclear Project in South Carolina.

Copyright 2018 WFAE

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