Critical
lawnews.co.uk
Duke Energy Carolinas has settled with the North Carolina Public Staff to implement a 9.5% residential rate increase over two years, significantly lower than the originally proposed 18%. The first phase will introduce a 5.9% increase in 2027, followed by 3.6% in 2028. The settlement includes $10 million in shareholder-funded assistance for low-income customers and weatherization programs.
The agreement, signed by stakeholders such as Walmart, Microsoft, and the NC Sustainable Energy Association, was not endorsed by Attorney General Jeff Jackson. Covering 2.3 million customers in central and western North Carolina, the settlement reflects ongoing debates over balancing affordability with grid modernization investments.
Why it matters: The settlement highlights the tension between utility infrastructure needs and customer affordability. The involvement of major corporate stakeholders underscores the growing influence of large energy users in regulatory negotiations.