Dive Summary:

• The savings, which stem from the influx of Progress Energy’s power plants as well as projected savings on coal fuel, will amount to a little less than $1 of monthly savings for most customers.
• Overall, Duke has guaranteed $650 million in savings in the five to six years after the merger.
• If approved by the North Carolina and South Carolina utilities commissions, the rate cuts will start September 1.

From the article:

Duke Energy filed requests Wednesday to pass $89 million in first-year savings – a little less than $1 a month for most customers – to its Carolinas customers following its July 2 merger with Progress Energy.

Duke asked regulators to cut Carolinas rates by $70 million over the next year, the first installment of the $650 million in savings it has guaranteed in the five to six years after the merger. ...