Duke Energy, the largest electric utility provider in North Carolina, with over a billion dollars in profit every year, has filed a rate hike request. Duke Energy is asking the NC Utilities Commission for a 15% increase in rates over the next two years. With costs rising for North Carolinians across the board, Democratic Gov. Josh Stein and Attorney General Jeff Jackson are pushing back.
“My office is intervening to make sure we find the right balance between investing in our energy infrastructure and protecting North Carolinians’ wallets,” AG Jackson said in a statement released earlier this month.
“At a time when families are struggling to make ends meet, we should be doing everything we can to make life more affordable, not less,” Gov. Stein said in a separate statement.
Gov. Stein described the proposed rate hike as “simply too high” and criticized Duke Energy for cutting back on affordable clean energy.
If the rate hike is approved, monthly electric bills will increase by more than $17 each month for the typical Duke Energy Carolinas residential customer and by more than $23 each month for the typical Duke Energy Progress residential customer, starting in 2027.
Meanwhile, the rake hike would increase revenue by $1 billion and $729 million, respectively, for Duke Energy Carolinas and Duke Energy Progress.
The NC Utilities Commission will schedule public hearings about the proposed rate hike in 2026, allowing customer advocates and officials like Attorney General Jackson to weigh in before a decision is made.
