Electricity Rates

Local News
1:25 pm
Tue February 18, 2014

Duke Earnings Up In 4th Quarter

Duke Energy building, Charlotte, N.C.

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

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5:17 pm
Wed November 20, 2013

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

The Duke Energy Savings Store is selling highly discounted LED and CFL lightbulbs.
Credit 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.

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Local News
1:17 pm
Wed November 6, 2013

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

Duke Energy CEO Lynn Good says the company remains 'on track.'
Credit 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.  

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Local News
1:29 pm
Wed September 25, 2013

5% Rate Increase Approved For Duke Energy NC

Duke's new Dan River natural gas plant in Eden, NC.
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. 

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Local News
9:31 am
Wed August 14, 2013

Duke CEO: No More Rate Increases For Several Years

Lynn Good has been CEO of Duke Energy since July 1, 2013.
Credit 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.

WFAE's Julie Rose speaks with Duke Energy CEO Lynn Good.

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Local News
1:39 pm
Wed August 7, 2013

Duke Earnings Drag In Second Quarter

Charlotte-based Duke Energy's 2Q earnings per share fell 50 percent compared to 2012.

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.

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Local News
5:49 am
Mon July 8, 2013

Regulators Begin Hearings On Duke Rate Increase

Duke Energy recently completed a new coal unit at its Cliffside Steam Station in Cleveland and Rutherford Counties.
Credit www.duke-energy.com

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

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Local News
5:02 pm
Thu June 13, 2013

Is Duke Rate Hike Settlement A Deal Or A Dupe?

Duke Energy has agreed to a rate increase less than half the size of its original request. Advocates wonder if state regulators are being played by the utility company.

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.

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Local News
4:36 pm
Fri April 12, 2013

Court Orders Regulators To Reconsider Duke Rate Hike

NC Attorney General Roy Cooper challenged Duke Energy's 2012 rate hike and won.

The North Carolina Supreme Court has ordered state utility regulators to go back and reconsider the rate hike it granted Duke Energy last year.  Specifically, the court says North Carolina Utilities Commissioners failed to consider how the increase would affect customers in the midst of an economic downturn.

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Local News
4:49 pm
Wed February 13, 2013

Duke's 2012 Earnings Bolstered By Higher Rates

Duke Energy reported earnings of $3.07 per share for 2012, compared to $3.83 in 2011. The number would have been far lower without a 7-percent rate increase in the Carolinas.
Credit Duke Energy/Flickr

Duke Energy reported modest earnings for 2012 of about $3 per share – but the number would have been much lower if Duke hadn't raised electric rates in the Carolinas by 7 percent last year. WFAE's Julie Rose reports on this classic case of conflicting interests – where pain for ratepayers means profit for investors:

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