Update:  The Commission granted Duke’s application for rehearing in Duke’s 2013 shared savings recovery case (14-457-EL-RDR), overturning its previous ruling which held that Duke’s use of banked savings to claim a shared savings incentive was improper. As you may recall, 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. The Commission’s determination eliminated Duke’s collection of several million dollars in shared savings incentives.

The Commission’s decision to adopt the stipulation between Duke and Staff in both the 2013 shared savings recovery case (14-457-EL-RDR) and the 2014 shared savings recovery case (15-534-EL-RDR), reverses its prior decision and permits Duke to recover $19.75 million in shared savings incentives.