Critical
ABC11 News
Duke Energy has revised its proposed rate hike in North Carolina, lowering it from 18% to 9.5% over two years after public hearings and negotiations. The increase, aimed at funding grid modernization and meeting rising energy demands, would result in monthly bill increases of $6.53 in 2027 and $4.66 in 2028 for residential customers using 1,000 kWh. Despite the reduction, many customers have expressed concerns about affordability in light of already high utility costs.
The proposal comes as utilities nationwide face scrutiny over rate increases. For Duke Energy, this adjustment is a key test of its ability to balance infrastructure investment with customer satisfaction in a state that accounts for a significant portion of its revenue.
Why it matters: North Carolina is Duke Energy's largest market, and how the company manages this rate hike will influence its regulatory relationships and public image. The stakes are high for securing approval while maintaining customer trust.