Duke Energy Progress, LLC
Application of Duke Energy Progress, LLC, for Adjustment of Rates and Charges Applicable to Electric Service in North Carolina and for Performance Based Regulation
Docket No. E-2 Sub 1300
|Date||Time||Location||Docket||Description of Proceeding|
|Public Witness Hearings:|
|3/06/2023||7:00pm||Haywood County Courthouse, 285 N. Main Street, Courtroom 2-A,Waynesville, NC||E-2 Sub 1300||Public Witness Hearing of DEP Application to Raise Electric Rates|
|3/13/2023||7:00pm||Person County Courthouse, 105 S. Main Street, Superior Courtroom, Roxboro, NC||E-2 Sub 1300||Public Witness Hearing of DEP Application to Raise Electric Rates|
|3/14/2023||7:00pm||Hearing Room 2115, Dobbs Building, 430 N Salisbury, Raleigh, NC||E-2 Sub 1300||Public Witness Hearing of DEP Application to Raise Electric Rates|
|3/20/2023||7:00pm||Greene County Courthouse, 301 N. Green Street, Courtroom 1, Snow Hill, NC||E-2 Sub 1300||Public Witness Hearing of DEP Application to Raise Electric Rates|
|3/21/2023||7:00pm||Robeson County Courthouse, 500 N. Elm Street, Courtroom B, Lumberton, NC||E-2 Sub 1300||Public Witness Hearing of DEP Application to Raise Electric Rates|
|Expert Witness Hearing:|
|5/1/2023||2:00pm||Hearing Room 2115, Dobbs Building, 430 N Salisbury St. Raleigh||E-2 Sub 1300||Expert Witness Hearing of DEP Application to Raise Electric Rates|
On October 6, 2022, Duke Energy Progress, LLC (DEP), filed an application with the Commission requesting authority to adjust and increase its rates and charges for electric service in order to produce an additional $623.5 million in retail base revenues, an increase of about 18.0% over current revenues. DEP requested approval of an application for performance-based regulation that allows DEP to adjust its base rates over three years in addition to the general base rate increase, a residential decoupling mechanism, an earnings sharing mechanism, and a performance incentive mechanism. The first-year increase would be partially offset by an $8.5 million refund of excess deferred income taxes resulting from the 2017 Federal Tax Cuts and Job Act and a reduction in North Carolina’s state-corporate tax rate.
Additionally, DEP is requesting approval of the following riders:
In its application, DEP stated that its request is driven by investments made since its 2019 rate case, E-2, Sub 1219, including:
Additionally, DEP is requesting an accounting order for approval of:
DEP also proposed a customer assistance program for eligible low-income customers, a tariffed-on-bill program, and the payment navigator program.
The Commission has scheduled five public witness hearings to receive testimony from DEP’s customers, as well as an expert witness hearing beginning May 1, 2023, for testimony and cross-examination of expert witnesses. There will not be an opportunity for public comments at the expert witness hearing, but the public is welcome to attend.