NC Utilities Commission approves new rate plan for Duke Energy Carolinas

The North Carolina Utilities Commission (NCUC) approved a new rate plan for Duke Energy Carolinas.

The new rates will see electric service increase by an average of 0.7 percent for residential customers, starting June 1. The typical residential customer using 1,000 kilowatt-hours (kWh) of electricity per month will see their bill go up less than $2.00 per month, up to $106.25 from the current $104.54, over the next two years. The average rate increase will be 0.5 percent for commercial customers and 0.3 percent for industrial customers.

“Our investments over the past several years have helped lead the state to cleaner energy sources while keeping energy affordable and reliable for customers,” Stephen De May, North Carolina president, Duke Energy, said. “We look forward to continued collaboration with stakeholders to implement new initiatives that support customers and advance North Carolina’s energy transition.”

The NCUC also approved several proposals by Duke Energy to reduce the impact of rising costs on low- and fixed-income customers. Specifically, Duke Energy shareholders will contribute $6 million over two years to the Helping Home Fund to provide energy- and cost-saving measures to North Carolina customers. They will also contribute $5 million over two years to the Duke Energy Carolinas Share the Warmth program and $5 million over two years to the Duke Energy Progress Energy Neighbor Fund to provide billing assistance to low-income customers. Further, the company will convene a stakeholder workshop to assess new protections for low-income customers, including an energy efficiency pilot program.

“We know rising costs can be difficult for many customers, but particularly for those on low and fixed incomes,” De May said. “We are working to minimize the impact of these important investments on our customers least able to accommodate rate increases. And going forward, we will be working with diverse stakeholders and customer advocate groups to implement innovative solutions and additional protections for our most vulnerable customers.”

Duke Energy Carolinas serves 2 million households and businesses in central and western North Carolina. It is a subsidiary of Duke Energy.