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Duke Energy to Keep $223 Million in Tax Savings

June 11th, 2019 by Mike Vasilinda

Florida utility regulators voted to allow Duke Energy keep its $223.5 million tax savings that the company saw as a result of last years Federal tax package Tuesday.

The money will be used to offset Hurricane Michael costs incurred by the company said Deputy Public Counsel Charles Rehwinkel.

“This is a good opportunity to use the tax savings to pay for a catastrophic event. It’s very important that customers recognize that the company has a legal right to recover the storm costs,” said Rehwinkel.

While on the hook for storm costs, ratepayers were also entitled to share in the tax savings.

Other utility companies, such as Florida Power and Light have opted for the same settlement.

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