Rates for residential customers will rise nearly 2.5 cents per kilowatt hour (kWh) to $0.1045 per kWh, after a recent energy auction, a spokesman for the Public Utilities Commission of Ohio (PUCO) said.
And after approval of the electric security plan, customers who use 1,000 kWh of electricity a month will see their bills rise by $8.41 by the end of the three-year electric security plan, thanks to provisions for Duke’s plans for capital investments and vegetation control.
“Today we approve a wide-ranging settlement in which Duke Energy Ohio will continue to provide competitively priced power, invest in its system, and provide assistance to the most vulnerable,” Jenifer French, chair of the PUCO, said Wednesday.
Duke Energy Ohio, Inc., a subsidiary of Duke Energy, has about 700,000 customers in Southwest Ohio.
An electric security plan — or “ESP” — is an operating plan for an electric utility that sets prices for the generation of electricity. It may cover investments in distribution and updates to a utility’s electric grid.
Duke will be expected to develop a distribution capacity hosting map to identify areas in Duke’s service territory that may have available capacity for new electric loads, which can lead to more efficient grid planning, the PUCO said.
Over the plan’s three-year duration, Duke Energy Ohio will also be expected to put in place a $7.2 million energy efficiency program targeted at eligible low-income customers while contributing $575,000 in shareholder funds to payment assistance and customer education.
Last November, a settlement agreement allowing the new ESP was signed by Duke Energy Ohio, PUCO staff, the Ohio Consumers’ Counsel, the city of Cincinnati, Kroger, the Ohio Energy Group, the Ohio Energy Leadership Council and others.
The PUCO approved a three-year ESP for AES Ohio in August 2023.
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