Ohio High Court Rejects Duke Energy's $30M Recovery Bid

Law360, Washington (April 09, 2012, 6:53 PM ET) -- Ohio's Supreme Court denied utility company Duke Energy Ohio Inc.'s appeal Thursday to recover more than $30 million it had spent restoring its system after Hurricane Ike, saying the company failed to prove contested cleanup charges were reasonable.

Although Duke originally requested $30.1 million for costs incurred in for the cleanup of the September 2008 hurricane, Ohio's Public Utilities Commission approved $14.1 million because the company hadn't adequately justified multiple charges, including $3.2 million in salaried employee bonuses and $2 million in labor and supervision costs....
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