DPL Inc.
07/21/2026 | Press release | Distributed by Public on 07/21/2026 14:44
Material Agreement (Form 8-K)
Item 1.01 Entry into a Definitive Material Agreement
On July 21, 2026, The Dayton Power and Light Company, doing business as AES Ohio ("AES Ohio"), a subsidiary of DPL LLC ("DPL"), entered into an unopposed Stipulation and Recommendation (the "Settlement") with intervening parties and the Staff of the Public Utilities Commission of ("PUCO") with respect to AES Ohio's pending, three-year forecasted rate case for electric distribution service at the PUCO. The Settlement provides for base rates for electric distribution service customers in AES Ohio's service territory in 2027, 2028, and 2029, with annual true-up proceedings, and is subject to, and conditioned upon, approval by the PUCO. Along with setting updated rates, the Settlement, if approved, would:
•Establish a revenue requirement, subject to annual true-up, of $622,527,962 in 2027, $656,145,044 in 2028, and $679,310,366 in 2029 for AES Ohio's base rates for electric distribution service.
•Provide for a return on equity of 9.5%, subject to annual performance metrics, and a forecasted cost of long-term debt, subject to annual true-up, of 4.79% in 2027, 4.98% in 2028, and 5.08% in 2029 on a forecasted rate base of $1,801,831,762 in 2027, $1,960,860,762 in 2028, and $2,083,297,091 in 2029, inclusive of certain assets that are currently recovered through the company's existing Distribution Investment Rider and Infrastructure Investment Rider, and based on a forecasted capital structure, subject to annual true-up with the equity layer capped at the forecasted amounts, of 53.37% equity and 46.63% long-term debt in 2027, 52.00% equity and 48.00% long-term debt in 2028, and 50.50% equity and 49.50% long-term debt in 2029.
The PUCO has set the evidentiary hearing to begin on August 4, 2026. The foregoing description of the Settlement is qualified in its entirety by reference to the Settlement, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference. AES Ohio's distribution rate case docket, which includes a copy of the Settlement, is available at the website of the PUCO at www.puco.ohio.gov by searching Case No. 25-0958-EL-AIR. The information on the website of the PUCO is not incorporated herein.
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