Duke Energy Progress requests rate change for modernization, clean energy efforts
Duke Energy Progress recently filed for a rate increase with the North Carolina Utilities Commission (NCUC) to cover the costs of modernizing power plants, generating cleaner electricity, responsibly managing coal ash and responding to major storms.
The company, which serves 1.3 million electric customers in central and eastern North Carolina and in the Asheville region, requested to increase revenues by about $477 million, for an overall average rate increase across all customer classes of 14.9 percent.
“Our customers tell us they want electricity that is more reliable and increasingly clean, and they also want more value and choice every day,” David Fountain, Duke Energy’s North Carolina president, said. “It is critical that we, as their energy provider, balance these needs with smart investments that keep costs reasonable and keep North Carolina competitive.”
The average rate increase from the proposed changes for residential customers would be 16.7 percent. For commercial and industrial customers, the average increase would be 13.5 percent. A residential customer who uses 1,000 kilowatt-hours (kWh) of electricity monthly would pay about $122.48 per month.
Duke Energy has retired over half of its older, less efficient coal plants and replaced them with natural gas plants. The company has also added energy from renewable resources. Duke is currently working to safely close coal ash basins at eight North Carolina sites and recycles approximately 75 percent of the coal combustion byproducts it produces at its plants in the state.
“We are transitioning to a cleaner generation mix, closing older, less-efficient coal-fired plants and shifting to natural gas, carbon-free nuclear and expanded solar energy,” Fountain said. “Through these investments, we are providing customers cleaner, more reliable energy and have laid the foundation for a smarter energy future from which all North Carolinians can benefit.”
Duke Energy Progress requested that new rates, as approved by the NCUC, go into effect Jan. 1, 2018.
