NCUC Approves Rate Hike for Duke Energy

NCUC Approves Rate Hike for Duke Energy

12:17pm Sep 25, 2013
Utilities Commission approves Duke Rate Increase
Teo via flickr Creative Commons

The North Carolina Utilities Commission (NCUC) has approved a rate increase for Duke Energy, which serves nearly 2 million customers in North Carolina.

  The rate hike was given the green light on Tuesday.  The company says rates will go up a total of $205 million, or 4.5 percent for the first two years, increasing by 0.6 percent thereafter.  The total increase in rates after September of 2015 will be $235 million, or an average increase of 5.1 percent for all of Duke's customers in North Carolina.  

After September 2015, the bill for an average residential customer,  using 1000 kilowatt-hours of electricity per month, will increase to $110.32, from the current $102.72, or $7.60 per month.  This includes an increase in the basic customer charge to $12.19 per month, from the current $9.90.

The increase was initially agreed upon in a settlement between Duke Energy Carolinas and the North Carolina Public Staff, which represents consumers.  

In a statement released Tuesday, Duke Energy's President for North Carolina Paul Newton said, "We're pleased the North Carolina Utilities Commission has approved our revenue request.  The decision reflects a balance between the needs of our company and those of our customers."

The Associated Press says North Carolina Attorney General Roy Cooper could appeal the rate increase.

Support your
public radio station