...- Charlotte, N.C.-based Duke Energy Corp. (Duke Energy) announced that its subsidiaries, Duke Energy Carolinas LLC (DEC) and Duke Energy Progress LLC (DEP), have reached a coal ash settlement with the North Carolina state Attorney General's Office, the Public Staff of the North Carolina Utilities Commission (NCUC), and the Sierra Club. As part of the settlement, which resolves all prior coal ash issues regarding the 2017 and 2019 rate-case filings and clarifies its coal ash cost recovery until 2030, Duke Energy will incur a pre-tax charge of about $1 billion and DEC and DEP will earn a reduced return on equity (ROE) on major portions of their current and future coal ash remediation spending. - Although the settlement resolves several complex issues related to coal ash, the lack of a full recovery of its costs and the reduced ROE on its future coal ash remediation demonstrates a modest increase in business risk and somewhat erodes its forward-looking financial measures. - Separately, Duke...
