Duke Energy asks for rate increase
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Duke Energy is asking regulators for permission to raise rates for residential customers by more than 16% by 2028.
- That would translate to about $20 to $30 more a month, depending on where in the state you live.
Why it matters: Duke is the dominant supplier of energy in North Carolina, but state regulators have significant influence on the rates it charges customers and which energy sources it taps into.
- The company periodically asks the North Carolina Utilities Commission for rate increase requests to pay for investments into the grid, repair and maintenance.
- The last rate request came in 2023.
Between the lines: This is the first rate request since Senate Bill 266 passed, which changed how Duke can set rates related to under-construction projects amid the surging demand from data centers.
By the numbers: If approved, the typical residential electricity bill in the Duke Energy Carolinas region, which covers much of western North Carolina, would increase from $144.98 to $162.20 in 2027 and to $168.54 in 2028 — a 16.3% increase.
- The typical residential bill in the Duke Energy Progress region (which includes much of eastern North Carolina and a small part of the mountains) would go from $163.84 to $193.54 in 2028 — up 18.1%.
- The Progress region has seen more costs related to storms and has also seen a bigger investment in solar installation, according to a Duke Energy spokesperson.
What's next: The Utilities Commission will hold public hearings on the potential rate increases in the coming months before making a final decision on rates sometime next year.