The commission has approved a stipulation, or settlement, that Duke Energy Ohio reached in October with nearly all of the intervening parties in its ESP proceeding.
PUCO has also approved the process that the company will use to set customer rates from 1 January 2012, through 31 May 2015.
A typical residential customer, who buys an average of 1,000kWh of electricity a month from the company, is expected to see about 11% rate reduction in his bill, or roughly $14 per month, starting 1 January 2012, the company said.
Duke Energy Ohio provides electric service to about 685,000 customers and natural gas service to about 400,000 customers.
