Duke Energy receives approval for multiyear rate agreement

Core Points - The Florida Public Service Commission approved Duke Energy Florida's multiyear rate agreement, which is expected to result in a 5% savings on typical residential electric bills by January 2025 compared to December 2024 [1][2] - The agreement allows for an average annual bill increase of 2% over three years, but the expiration of certain costs by the end of 2024 will lead to lower customer bills in 2025 [4] - Duke Energy Florida aims to invest in reducing outages, improving response times, and increasing clean energy generation while serving 2 million customers [3][6] Company Overview - Duke Energy Florida, a subsidiary of Duke Energy, has an energy capacity of 12,300 megawatts and serves a diverse customer base across a 13,000-square-mile area in Florida [6] - Duke Energy is one of America's largest energy holding companies, serving 8.4 million customers across multiple states and owning a total capacity of 54,800 megawatts [7] - The company is committed to a clean energy transition, targeting net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050 [8]