trending Market Intelligence /marketintelligence/en/news-insights/trending/fpFA9jPH6kD3uWYONPIVKA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Duke Energy Carolinas seeks $160M in storm-related cost recovery

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August


Duke Energy Carolinas seeks $160M in storm-related cost recovery

Duke Energy Carolinas LLC is asking North Carolina regulators to approve future recovery of about $160 million for costs incurred tied to three storms in its service territory.

The Duke Energy Corp. subsidiary in a Dec. 21 petition filed with the North Carolina Utilities Commission requested approval to establish a regulatory asset and defer costs related to Hurricane Florence, Hurricane Michael and a winter storm earlier in December. Specifically, Duke Energy Carolinas, or DEC, seeks to defer until its next general rate case about $142 million for the incremental operations and maintenance, or O&M, expenses and about $18 million in capital investments.

DEC said it plans to file a general rate case in 2019. The utility asked to spread recovery of the storm costs over an eight-year period that would begin once the new rates are approved. The commission has typically approved recovery of storm costs over a five-year period, but DEC asked for the longer period because of the magnitude of the request.

DEC also requested a return on its deferred balance and capital investments.

Hurricane Florence made landfall Sept. 14 as a Category 1 hurricane near Wrightsville Beach, N.C., leaving 2 million customers without power while flooding power plant sites and ash basins. DEC told regulators it "experienced extraordinary damage to both the transmission and distribution systems." The utility said its total "system-wide incremental costs for Hurricane Florence" amounted to about $53 million of O&M expenses and $5 million in capital investments. In North Carolina, incremental costs were $37 million of O&M expenses and $4 million in capital investments.

Hurricane Michael made landfall Oct. 10 as a Category 4 storm just northwest of Mexico Beach, Fla., before heading north into the Carolinas. "DEC incurred extraordinary incremental expenses in connection with the restoration and rebuilding efforts caused by Hurricane Michael," the utility wrote. DEC said its total incremental costs for Hurricane Michael reached about $60 million of O&M expenses and $12 million in capital investments, with $53 million of O&M expenses and $11 million of capital investments in North Carolina.

The winter storm, labeled by commercial weather service providers as Winter Storm Diego, hit the Carolinas in early December with a mix of snow, ice and freezing rain that caused "widespread damage and outages," DEC said. The utility estimated its total incremental costs at about $70 million of O&M expenses and $4 million in capital investments, with $51 million in O&M expenses and $3 million in capital investments in North Carolina. (NCUC docket No. E-7, Sub 1187)