Duke Energy reduces proposed rate increase following public pushback
RALEIGH, NC (WWAY) — Duke Energy has reduced its proposed electricity rate increase for North Carolina customers from 18 percent to 11.6 percent, a move that Attorney General Jeff Jackson said reflects the impact of public scrutiny and opposition to the utility’s request.
The revised proposal comes amid growing concerns from consumer advocates and environmental groups over the financial burden higher utility costs could place on households and businesses across the state.
Duke Energy, which reported nearly $5 billion in profits last year, remains subject to oversight by the North Carolina Utility Commission (NCUC), the state agency responsible for regulating monopoly utilities. The commission will ultimately determine whether the proposed rate increase is approved and at what level.
The rate case has also renewed debate over North Carolina’s energy policies and the costs associated with future power generation. Environmental advocates have argued that Duke Energy’s long-term plans rely heavily on new natural gas infrastructure and could shift costs onto customers, particularly as energy demand rises from large users such as data centers.
The NCUC previously held technical discussions regarding large load tariffs, a policy mechanism designed to help ensure that major energy users bear a greater share of the costs associated with expanding the electric grid. While no action resulted from those discussions, regulators could revisit the issue in the future.
The Sierra Club, which has been critical of Duke Energy’s recent energy strategy, welcomed the reduction in the proposed rate increase while calling for additional oversight of the utility.
“North Carolina families and businesses are fed up with Duke’s endless greed, and we’re thankful that Attorney General Jackson recognizes this is unsustainable for our state’s environment and economy,” said Olive Burress, North Carolina Sierra Club campaign organizer. “We need more civic and political leaders to stand up to Duke and defend communities throughout the state who are struggling to pay their bills because a wealthy monopoly utility wants to increase its already substantial shareholder profits on the backs of captive ratepayers.”
The organization has also criticized Duke Energy’s support for extending the use of coal-fired power plants and reducing planned investments in renewable energy sources, arguing that such decisions could increase long-term costs for consumers and slow the state’s transition to cleaner energy.
Duke Energy has maintained that rate adjustments are necessary to support infrastructure investments, maintain reliability, and meet growing electricity demand.
The North Carolina Utility Commission is expected to continue reviewing the proposal before issuing a final decision.
