RALEIGH, N.C. (AP) — Electric utility Duke Energy Corp. says it's ready to pass along part of its windfall from the new federal tax law to North Carolina rate-payers, but is urging caution because the law's full effects aren't fully understood.
The Charlotte-based company on Thursday asked regulators to allow it to use some of its tax savings to reduce part of its current or future rate increase requests. The company isn't specifying how much of nearly $275 million in tax savings it's willing to pass along to customers.
The electricity giant is in the midst of seeking double-digit rate increases for millions of North Carolina customers.
Utility regulators around the country are considering lowering electricity rates after tax cuts reducing top corporate income tax rates by 14 percent took effect last month.