Duke Energy Gets Six Percent Electric Franchise

The City of Fort Meade is formalizing the company's ongoing use of City rights-of-way for the delivery of electric service.The proposed ordinance establishes a non-exclusive franchise agreement between the City and Duke Energy that outlines the terms and conditions under which Duke may occupy and utilize the City's streets, alleys, and public rights-of-way for the construction, operation, and maintenance of electric utility infrastructure. The franchise duration is proposed for 20 years, with two optional 5-year renewals. Under this agreement, the City will receive monthly franchise fee payments equal to 6% of Duke Energy's Base Revenues from customers within the City limits. These revenues are remitted to the City each month and deposited into the General Fund.