AI Tools for Utility Regulatory Analysts

Based on SNL and regulatory database analysis: average allowed ROE for electric distribution utilities was 9.42% in 2023, down from 9.76% in 2021 — a 34 basis point decline reflecting higher risk-free rate impact on CAPM and DCF estimates. Range: 8.9% (Connecticut PURA) to 10.5% (Wyoming PSC). Most commissions using hybrid CAPM/DCF approach; pure DCF awards trending lower.

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Average (2023)

9.42% — down 34bp from 9.76% in 2021

Low End

8.9% — Connecticut PURA

High End

10.5% — Wyoming PSC

Methodology Trend

Hybrid CAPM/DCF dominant; pure DCF trending lower

Rate Driver

Higher risk-free rate compressing both CAPM and DCF outputs

Commercial rates ($/kWh): FL 0.112, TX 0.103, CA 0.218, NY 0.172, US average 0.132. Industrial: FL 0.078, TX 0.071, CA 0.189, NY 0.141, US average 0.094. Florida commercial rates are 15% below national average, supporting affordability positioning. California is 65% above average — useful for comparative context.

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Commercial ($/kWh)

Industrial ($/kWh)

Duke Energy 2023 10-K: Allowed ROE ranges from 9.6% (North Carolina) to 10.2% (Indiana). Earned ROE: 9.1% consolidated — 50bp below weighted allowed. 5-year CapEx plan: $65B focused on grid modernization and clean energy. Active rate cases in NC, FL, and SC with combined revenue increase requests totaling $2.1B.

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Allowed ROE Range

9.6% (NC) to 10.2% (IN) by jurisdiction

Earned ROE (Consolidated)

9.1% — 50bp below weighted allowed average

5-Year CapEx

$65B — grid modernization + clean energy transition

Active Rate Cases

NC + FL + SC — combined $2.1B revenue increase requests

Regulatory Strategy

Multiyear rate plans preferred to reduce case frequency

Access rates: all four countries 100%. Renewable share (2022): Germany 44%, UK 39%, France 24% (dominated by nuclear), US 21%. World Bank tracked retail price index: Germany highest at $0.38/kWh effective household rate, France lowest at $0.22/kWh. US residential average $0.166/kWh — lower than all three EU members.

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CountryRenewable shareResidential rate

Germany44%$0.38/kWh

United Kingdom39%$0.31/kWh

France24%$0.22/kWh

United States21%$0.166/kWh

US residential rate lowest among G7 — strong affordability position

Retrieved 31 articles. Key developments: FERC issued NOPR on generator interconnection reform (Order 2023 implementation update). PJM capacity market auction results released — clearing prices 27x above prior year. FERC approved MISO transmission cost allocation settlement. Senate Energy Committee advancing grid permitting reform legislation.

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DateDevelopmentImpact

Mar 28FERC Order 2023 update NOPR — interconnection reformHigh — queue reform timeline

Mar 21PJM capacity auction — clearing 27x prior yearHigh — wholesale price signal

Mar 15MISO transmission cost allocation settlement approvedMedium — cost allocation precedent

Mar 10Senate grid permitting reform bill advancingHigh — long-term tx planning

31 articles retrieved · 4 high-impact items flagged

FPL service territory: median household income $54,200 (11% below Florida median). Poverty rate: 14.8% vs 12.1% statewide. Energy burden (EIA estimate): 3.2% of household income for average FPL residential customer — above the 6% high-burden threshold for 23% of customers in the lowest income quintile.

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Median Household Income

$54,200 — 11% below Florida median

Poverty Rate

14.8% vs 12.1% statewide — higher burden area

Average Energy Burden

3.2% of household income — FPL average customer

High-Burden Customers

23% in lowest income quintile exceed 6% burden threshold

Low-Income Program Gap

LIHEAP covers ~18% of eligible FPL customers