Electricity Rates

Lower-income customers of Duke Energy in North Carolina can now apply for energy-saving upgrades to their homes. A $20 million program funded by Duke Energy opened this week, the result of a deal Duke agreed to when it last raised rates.

The North Carolina Supreme Court is once again pondering how much you pay on your electric bill. The court heard oral arguments Monday about whether state regulators adequately considered customer finances when approving rate increases for Duke Energy in 2011 and 2013.

Duke Earnings Up In 4th Quarter

Feb 18, 2014

Duke Energy reported a 58 percent jump in profits in its fourth quarter earnings, partially due to lower costs and higher rates.

Duke Energy's Store Sells Sort-Of-Free Lightbulbs

Nov 20, 2013
Duke Energy website

Duke Energy is offering free lightbulbs when you order them online. Well, almost free. You can order lightbulbs for up to 92 percent off the retail price. The company's efforts to promote energy efficiency helps their bottom line.

Duke 'On Track,' Posts $1Billion 3Q Profit

Nov 6, 2013
Duke CEO Lynn Good
Duke Energy

Duke Energy made a billion-dollar profit in the third quarter – twice what it reported for the same quarter a year ago, when the company was newly-merged and swallowing significant costs related to that. Duke executives say the quarter would have been even stronger, had it not been for mild summer weather in the region that meant fewer air conditioners sucking up electricity.  

5% Rate Increase Approved For Duke Energy NC

Sep 25, 2013
Duke Energy

Electric bills for the average residential Duke Energy customer in North Carolina are going up by about $7.50 a month, under a rate increase approved by state regulators.  The company originally asked for a nearly 12 percent rate hike for residential customers, but settled for a boost of just over five percent that will be phased in over the next three years.

Duke Energy's justification for this rate increase is the same as it has been for the last two. 

Duke CEO Lynn Good
Duke Energy

In the coming month, Duke Energy hopes to get regulatory approval to raise rates in North Carolina by about five percent and in South Carolina just over eight percent. WFAE's Julie Rose sat down with Duke CEO Lynn Good yesterday to talk about what comes next.

Duke Earnings Drag In Second Quarter

Aug 7, 2013

A lackluster earnings report from Duke Energy out today is evidence the company's year-old merger with Progress continues to be a mixed bag for the bottom line.

Regulators Begin Hearings On Duke Rate Increase

Jul 8, 2013

Regulatory hearings begin Monday afternoon at the North Carolina Utilities Commission in Raleigh for Duke Energy's latest request for a rate increase.

Is Duke Rate Hike Settlement A Deal Or A Dupe?

Jun 13, 2013

Duke Energy has struck a deal with the state's top utility customer advocate that, on the surface, seems like a pretty good deal for ratepayers. But some advocacy groups wonder if we're being played.

A pattern is emerging: Two years in a row, Duke Energy has come in asking for a big rate hike - 9.7 percent in this latest case - only to turn around a few months later and settle for an increase half as big. 

"You know, this is the game," says Jim Warren, of the advocacy group NC WARN.