Critical
WRAL
Duke Energy is defending its revised rate hike proposal before the North Carolina Utilities Commission this week. The settlement, which reduces the initial request by more than half, proposes a 3.4% annual increase over two years. Residential customers using 1,000 kWh per month would see monthly bills rise by $9.62 in 2027 and $5.89 in 2028. The utility has also committed $10 million to low-income assistance and weatherization programs.
This follows a contentious process involving settlements with the North Carolina Public Staff and other stakeholders. While Duke emphasizes the need for infrastructure funding, customers and state leaders have raised concerns about affordability amid rising energy costs.
Why it matters: The commission's decision will affect Duke's ability to fund grid upgrades and maintain reliability. It also reflects how regulators weigh utility investment needs against customer affordability, potentially influencing future rate cases across the industry.