Duke Energy Ohio Appeals PUCO Decision in Electric Rate Plan February 15, 2008
Duke Energy Ohio today filed a notice of appeal with the Ohio Supreme Court challenging a portion of a decision by the Public Utilities Commission of Ohio on its electric rate stabilization plan.
The appeal relates to the PUCO’s order in October 2007, which permits non-residential customers to avoid certain charges associated with the costs of Duke Energy Ohio being ready to serve them if they return after being served by another supplier. Under Ohio’s customer choice law, customers have the right to return to Duke Energy, which has the obligation to serve them with no interruption.
In its notice, Duke Energy Ohio said the PUCO exceeded its authority in modifying the charges that may be avoided, resulting in the company having to subsidize Ohio’s competitive electric market. The company asks the Supreme Court to reverse the PUCO ruling and require that non-residential customers pay the charges associated with being ready to serve them should they return from a competitive supplier.
Duke Energy’s Ohio operations deliver safe, reliable and competitively priced electricity to more than 680,000 electric customers and natural gas service to approximately 420,000 customers.
Duke Energy, one of the largest electric power companies in the United States, supplies and delivers energy to approximately 4 million U.S. customers. The company has approximately 36,000 megawatts of electric generating capacity in the Midwest and the Carolinas, and natural gas distribution services in Ohio and Kentucky. In addition, Duke Energy has more than 4,000 megawatts of electric generation in Latin America, and is a joint-venture partner in a U.S. real estate company.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.