Duke Energy requests review of North Carolina rate

Duke Energy proposes rate hikes of 16-19%
Duke Energy proposes rate hikes of 16-19%(WECT)
Published: Jan. 20, 2023 at 9:16 AM EST
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ASHEVILLE, N.C. (FOX Carolina) - Duke Energy Carolinas asked the North Carolina Utilities Commission (NCUC) to review its rates as the company “continues working to strengthen its grid, reduce carbon emissions and improve the customer experience”.

The company said the rate case includes a three-year plan to fund system improvements, including nearly $4.2 billion in future grid infrastructure upgrades to increase reliability and enhance grid security while enabling renewables, EVs, and supporting economic development and new jobs.

“Our customers expect us to deliver reliable, affordable and increasingly clean energy every day,” said Kendal Bowman, Duke Energy’s North Carolina president. “We’re very mindful of the financial pressures our customers face. Our rates are well below the national average, and we remain committed to keeping rates as low as possible.”

The NCUC will review this plan, which will limit annual rate increases and give customers more cost certainty.

If approved by the NCUC, rates for a typical residential customer using 1,000 kilowatt-hours per month would increase as follows:

  • Jan. 1, 2024, a monthly increase of $12.54 - from $115.01 to $127.55
  • Jan. 1, 2025, a monthly increase of $3.90 – from $127.55 to $131.45
  • Jan. 1, 2026, a monthly increase of $3.18 – from $131.45 to $134.63

According to Duke Energy, customers struggling to pay their electric bills might qualify for a new Customer Assistance Program proposed as part of the rate case. If approved, it would reduce monthly bills for the company’s most vulnerable customers by $42 per month.

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