The Public Utilities Commission of Ohio last week reversed its prior decision thus permitting Duke Energy in Ohio to recover $19.75 million in “shared savings” incentives.
The commission granted Duke’s application for rehearing of its 2013 shared savings recovery case, overturning its previous ruling which held that Duke’s use of banked savings to claim a shared savings incentive was improper.
On May 20, 2015, the commission issued an order determining, among other things, that Duke may only use its banked savings to reach energy efficiency/demand reduction benchmarks. Accordingly, Duke was not permitted to use banked savings to claim a shared savings incentive. Last week’s action reverses this. Duke will collect the $19.75M through an increase in the existing EE/PDR rider. 10/31/2016