By Connor Hart
An arm of Duke Energy filed a plan to recover an estimated $1.1 billion in direct costs associated with the company's emergency activation and response to hurricanes Debby, Helene and Milton.
Residential customers' monthly bills will increase by approximately $21 per 1,000 kilowatt-hours of electricity in March 2025, when the plan goes into effect, compared with February 2025, the Charlotte, N.C., energy company said Friday. Duke Energy Florida filed the plan with the state's Public Service Commission.
Duke said costs stemmed from having mobilized more than 27,000 workers and additional resources to restore power for approximately 2 million affected customers this hurricane season.
The subsidiary's president, Melissa Seixas, said costs included deploying crews, standing up basecamps, providing meals, and repairing and replacing infrastructure. "We strived to minimize the impact on (customers') bills as much as possible, and moving forward, we will keep making strategic investments to strengthen the electric grid and help ensure they have the reliable power they need," she added.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
December 27, 2024 15:09 ET (20:09 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.