Settlement in Duke electric rate case in Ohio

CINCINNATI -- Electric bills paid by typical customers of Duke Energy Corp. in Ohio would go up $3.72 a month under a settlement the company has reached over its 2012 request to raise its rates.

The settlement calls for an annual $49 million increase in revenue for the Cincinnati-based utility for an average 2.9 percent increase on electric bills.

The settlement announced Tuesday leaves gas rate increases unresolved because of lawsuits over environmental remediation costs associated with manufactured gas plants.

Duke Energy Ohio has also agreed to donate about $700,000 annually for its low income weatherization and fuel fund.

If the settlement is approved by the Public Utilities Commission of Ohio, the electric rate increases would take effect mid-year.

Duke Ohio is a subsidiary of Charlotte, N.C.-based Duke Energy.