Time Differentiated and Dynamic Rate Enrollment PIM
Design
Id
157
State
NC
Utility
Duke Energy Carolinas
Applicability
Electric
Emergent Topic
DF
Description
The PIM is intended to advance system operational efficiency and cost savings for all customers and encourages Duke Energy Carolinas ("DEC") to design and seek approval of dynamic and time-differentiated rate designs. Ultimately, this PIM is intended to encourage DEC to develop and expand the use of TOU rates to help address peak load growth.
Metric
Incremental annual customers enrolled in the Company’s dynamic and time-differentiated rates
Target
N/A
Incentive Type
Upside
Incentive Structure
Fixed amount
Incentive Description
For every incremental customer enrolled in dynamic and time-differentiated rates, the company earns $5 up to a cap of 450,000 incrementally enrolled customers and $2,250,000 per Rate Year.
The hyperlinked order doesn't provide full PIM design detail, but that information can be found in the PIM stipulation. PBR Policy Panel Settlement Exhibits 1-4, filed January 19, 2023, provides more detail on the specific design of the approved PIMs.
RY1 - 1/2024-12/2024; RY2 - 1/2025-12/2025; RY3 - 1/2026-12/2026
PIM History Narrative
Originally proposed by Duke Energy Carolinas, this PIM design was the result of a negotiated PIMs settlement in the rate case. The PIM went into effect in January 2024.
Note on Verification
The information in this entry represents RMI analysis. The details have not yet been verified by a local stakeholder.