Duke Energy seeks rate hike to pay for coal-ash cleanup

Duke Energy seeks rate hike to pay for coal-ash cleanup

Duke Energy Corp. will petition the N.C. Utilities Commission this year for a rate hike as it seeks to offset $5 billion in coal ash cleanup costs. If approved, the rate increase would affect more than 3 million customers in North Carolina. The news comes as Charlotte-based Duke reports a 23% drop in 2016 earnings to $2.1 billion, or $3.11 per share. Excluding one-time costs, earnings were $4.69 per share, up from $4.54 per share in 2015.

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