Duke Energy Says Regulators' Order Could Mean 1.2 Percent Rate Increase

Jun 25, 2018

Duke Energy headquarters in Charlotte.
Credit David Boraks/ WFAE

Duke Energy says state regulators' Friday order denying its request for a rate hike in its western North Carolina territory could still mean a small rate increase for customers. 

In a federal regulatory filing Monday, the company estimates the order will result in an immediate rate decrease of 0.1 percent, then a 1.2 percent increase after four years. 

New rates are expected to take effect in mid-July.  

Meanwhile, Duke told investors in the filing it expects to take a $150 million charge against profits in the second quarter for two other items in Friday's order: a $70 million penalty related to coal ash cleanups and regulators' decision to disallow a profit on costs related to the canceled Lee Nuclear Project in South Carolina.