Electricity Rates

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.

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.

Duke's 2012 Earnings Bolstered By Higher Rates

Feb 13, 2013
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:


Duke Energy wants to raise rates again on its North Carolina customers – this time by nearly 12 percent for residential users.  WFAE's Julie Rose reports on the company's latest request to state regulators.

We knew this rate hike request was coming, but we didn't know how large it would be. Last time around, Duke asked to raise residential rates by 17 percent but settled for just over 7 percent when it finally took effect a year ago.  Now Duke Energy is proposing another 11.8 percent increase for residential customers.

The North Carolina Supreme Court will hear a case Tuesday claiming Duke Energy's latest rate hike is harmful to customers and should not have been granted. Attorney General Roy Cooper hopes the high court will strike down Duke's rate hike and change the way future increases are approved by regulators. 

Duke Energy originally asked for permission to raise rates for the average household by 17%, but regulators agreed to just 7%.

Even at that lower rate, Duke managed to lock in a 10.5% profit for shareholders, which is where Attorney General Roy Cooper takes issue.

Duke Warns Troubled Plants To Cost $280M More

Oct 31, 2012
Duke Energy

The cost to build Duke’s coal-fired plant in Edwardsport, Indiana was already about a billion dollars over original estimates.

Now the testing of new technology to burn coal more cleanly at the plant is taking longer than expected and adding $180 million to the cost.

Duke spokeswoman Angeline Protogere says this should be the last expensive delay for the Edwardsport plant.

“We believe this is a realistic cost for the project,” says Protogere.