Duke Energy Reaches Settlement Over Rate Hikes

Law360, New York (October 29, 2008, 12:00 AM EDT) -- Power supplier Duke Energy Corp. has agreed to reduce rate increases for customers in Ohio by about one-third next year after reaching a settlement with consumer groups that objected to the company's initial plan.

Duke has proposed a 2 percent rate increase in 2009 and 2010 for residential customers under a settlement with the staff of the Public Utilities Commission of Ohio, the Ohio Consumers' Counsel and other groups that intervened in the matter, the company said Monday.

The company had originally sought to increase rates...
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