Duke Energy said that on November 11, 2025, Duke Energy Carolinas, LLC (DEC) and the Office of Regulatory Staff (ORS), as well as other intervening parties, reached a partial settlement in the South Carolina base rate proceeding filed on July 1, 2025.

1. 01

   Duke Energy said that on November 11, 2025, Duke Energy Carolinas, LLC (DEC) and the Office of Regulatory Staff (ORS), as well as other intervening parties, reached a partial settlement in the South Carolina base rate proceeding filed on July 1, 2025.

2. 02

   The company said the Stipulation includes a return on equity of 9.99%, a capital structure of 53% equity and 47% debt, an overall rate of return of 7.41%, and a South Carolina retail rate base of $7.9 billion.

3. 03

   Duke Energy said DEC originally requested an annual retail revenue increase of approximately $151 million, but the Stipulation provides for an increase of approximately $74 million, and after reflecting the PTC flow-back, the net increase is approximately $19 million, representing an average increase of 1.0%.

4. 04

   The company said the Stipulation includes the flow-back of $100 million in production tax credits to South Carolina retail customers over 22 months, is subject to approval by the PSCSC, and an evidentiary hearing is currently scheduled to commence on November 13, 2025.

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