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DUKE POWER & PUBLIC STAFF REACH AGREEMENT ON 1986 RATE CASE

 DUKE POWER & PUBLIC STAFF REACH AGREEMENT ON 1986 RATE CASE
 CHARLOTTE, N.C., Sept. 28 /PRNewswire/ -- Duke Power Co. (NYSE: DUK) today announced that it had reached an agreement with the Public Staff of the North Carolina Utilities Commission concerning the commission's order covering Duke's rates from 1986 through 1991. Under the agreement, the company will refund about $90 million to North Carolina customers.
 The agreement represents about a 30 cents per share impact on earnings.
 During the second quarter, Duke recorded a reserve against earnings due to the remand -- about 15 cents per share. For the third quarter, the agreement will also have a 15 cents per share impact on earnings.
 Duke Power and the Public Staff will file the agreement within a few days for approval by the NCUC.
 The agreement concerns an April 22, 1992, N.C. Supreme Court ruling that remanded for the second time the company's 1986 rate case to the NCUC. In the ruling, the court stated that the record of the 1986 proceedings failed to support the 13.2 percent rate of return on common equity.
 Under the agreement, a 12.8 percent return on common equity will be used.
 -0- 9/28/92 R
 /CONTACT: Randy Wheeless, Duke Power Company, 704-382-8379, or (home) 704-535-8743 or 704-594-0681/
 (DUK) CO: Duke Power Company ST: North Carolina IN: UTI SU:


SB -- CH009 -- 4267 09/29/92 09:51 EDT
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Publication:PR Newswire
Date:Sep 29, 1992
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