Duke Energy Carolinas settles North Carolina rate case with 9.8% ROE
Duke Energy Carolinas, LLC filed a Comprehensive Revenue Requirement Settlement on July 17, 2026, with the North Carolina Utilities Commission resolving its rate case application filed November 20, 2025. The settlement establishes a 9.8% return on equity based on a 53% equity component, a retail rate base of approximately $25.7 billion for the historic base case, and approximately $3.8 billion of capital in a multi-year rate plan with an annual refund mechanism. The company expects to recognize approximately $40 million in one-time pre-tax accounting charges in 2026, to be treated as special items excluded from adjusted earnings.
Key facts
- Return on equity of 9.8% based on a 53% equity component in the capital structure
- Retail rate base of approximately $25.7 billion for the historic base case
- Approximately $3.8 billion of capital in the multi-year rate plan with an annual MYRP refund mechanism
- Comprehensive Revenue Requirement Settlement filed July 17, 2026, with the North Carolina Utilities Commission
- One-time pre-tax accounting charges of approximately $40 million, expected to be recognized in 2026
- Agreement to evaluate potential to delay next base rate case filing until no earlier than November 1, 2028
- Original requested revenue requirement increase of approximately $1,002 million over two years
- Revised revenue requirement increase after Comprehensive Settlement of $496 million
- Net annualized customer rate increase of 7.4% combined over two years
Why it matters
The settlement resolves Duke Energy Carolinas' significant rate case with regulatory approval of capital investments and cost recovery needed to fund infrastructure improvements in North Carolina, while allowing deferral of the next base rate case filing for up to three years if certain cost deferrals are granted.
Share
Derived from 8-K filed 2026-07-17. Not investment advice. View the source filing on SEC.gov →