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Duke Energy Ohio customers to receive $133 credit after settlement

Duke Energy Ohio customers to receive $133 credit after settlement
Published: Apr. 21, 2022 at 2:24 PM EDT
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CINCINNATI (WXIX) - Duke Energy’s residential natural gas customers will soon receive an approximately $133 credit as part of a settlement between the company and the Public Utilities Commission of Ohio (PUCO).

Nonresidential customers will be credited over a 12-month period based on their monthly consumption, according to the press release from PUCO.

The settlement agreement resolves proceedings related to Duke Energy Ohio’s 2013-2019 expenses for environmental remediation of manufactured gas plants and the implementation of the Tax Cuts and Jobs Act (TCJA) of 2017, per PUCO.

“Our approval of the settlement agreement is good news for Duke Energy Ohio’s natural gas customers,” stated Commissioner Dennis Deters. “As the utility’s costs go down due to lower tax rates, so do customers’ bills. Today’s settlement is doubly exciting as not only will customers receive a large bill credit but will avoid additional charges for environmental cleanup.”

Under the terms of the settlement, Duke Energy Ohio will eliminate roughly $85 million in costs that otherwise would be billed to customers, the release explained. Approximately $4.8 million in remaining insurance proceeds will be used to fund the utility’s low-income and senior citizen bill assistance programs.

“We’re pleased with the Commission’s approval of this settlement, which will benefit our natural gas customers in Ohio through bill credits and a rate reduction,” said Amy Spiller, president, Duke Energy Ohio & Kentucky. “Because of global events, energy costs remain escalated for our customers. While we continue to share helpful resources with our customers, this settlement will bring direct financial relief to all of our natural gas customers beginning in June. This complex agreement also provides discrete funding to support our low income and qualifying senior customers who have been disproportionately impacted by the last two years.”

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