- Duke Energy (NYSE:DUK) closed at an all-time high today, as the North Carolina Utilities Commission approves a partial rate increase for Duke Energy Progress.
- Duke requested a 12.3% rate increase, equaling ~$463M, in October 2019, and the company implemented a temporary rate increase in September, which NCUC said covered part of its request.
- Duke says it is reviewing the order and "will determine the exact impacts on customer rates in the coming weeks."
- The order also approved Duke's settlement with state officials and the Sierra Club, which will reduce the amount of coal ash management costs recovered in customer rates, and the settlement with 10 stakeholders for future grid improvements.
- Duke Energy is expected to provide investors a 7%-9% total return with low volatility, Geoff Considine writes in a bullish analysis published on Seeking Alpha.