Duke Energy Carolinas reduced its proposed residential rate hike to 11.6% on Monday, down from an original request of 18%, after North Carolina Attorney General Jeff Jackson and other parties filed objections to the increase.
Jackson’s office, along with the state’s Public Staff and other intervenors, challenged the utility’s request as too costly for families. “That happened after our office objected, along with Public Staff, other intervenors, and many North Carolinians,” Jackson said in a statement.
Duke Energy initially filed the 18% increase request earlier this year, seeking to raise residential rates over two years starting in 2027. The original proposal would have added roughly $17 per month to the average customer’s bill by January 2028. Jackson’s office specifically opposed the company’s requested return on equity of nearly 11%, arguing instead for a rate of 7.4% that would save residential customers money.
Despite the reduction, Jackson said the revised proposal remains unacceptable. “It’s a step in the right direction, but it’s still too high,” he stated. He pledged to continue challenging the proposal before the North Carolina Utilities Commission, arguing that families should not bear unnecessary costs and should not be left paying for infrastructure needed to serve data centers and other large energy users. “We’ll keep making our case for lower rates – and for making sure families don’t get stuck paying unfair costs for data centers and other large users,” Jackson said.
The North Carolina Utilities Commission will hold a hearing on the Duke Energy Carolinas rate case beginning July 7. The commission will decide whether to approve, reduce, or reject Duke’s proposed increase. If approved as filed, the new rates would take effect on January 1, 2027.
Sources
- Queen City News — Duke Energy’s reduction from 18% to 11.6%, Jackson’s statement, and hearing timeline
- WLOS — Confirmation of the rate reduction and Jackson’s objections
- WFAE — Jackson’s argument that Duke Energy “overshot the mark” and details on his proposed 7.4% return on equity alternative
- North Carolina Attorney General’s Office — Jackson’s formal objection and argument that the original proposal would cost residents $1.4 billion in unnecessary charges
