Duke Energy Seeks Additional Rate Increases Amid Rising Costs
Customers of Duke Energy in North Carolina may soon see higher utility bills as the company moves to address escalating fuel and power costs. The energy giant has filed a new request to raise rates, following a prior proposal for significant increases next year aimed at funding new infrastructure projects.
Just five months ago, Duke Energy submitted a proposal for rate hikes exceeding 10%, set to commence next year. Now, the company seeks to recover costs from January’s severe winter storms, planning to distribute the financial impact over a 19-month period. Since September 2025, Duke Energy Carolinas has reportedly under-recovered an estimated $500 million.
If approved, the new rates would be implemented starting June 1. This change would mean an additional $6.90 per month for customers of Duke Energy Carolinas and $7.88 per month for those served by Duke Energy Progress. Notably, Duke Energy does not profit or incur losses from fuel or power transactions.
North Carolina Governor Josh Stein has voiced opposition to the filing, urging the Utilities Commission to intervene to protect consumers from rising energy costs. “I vetoed Senate Bill 266 for exactly this reason: because it would further expose North Carolina ratepayers to volatile fuel markets and shift the cost of electricity from large industrial users onto the backs of regular people, making your utility bills more expensive,” Stein stated.
Senate Bill 266 would have permitted the utility to recuperate fuel costs more frequently. Customers interested in expressing their views on the proposed increases can submit comments through the North Carolina Utilities Commission website using the appropriate docket numbers:
- E-2 Sub 1358: Pertains to Duke Energy Progress customers, with an expected average monthly rate increase of $7.88 effective June 1.
- E-7 Sub 1313: Relates to Duke Energy Carolinas customers, facing an average monthly rate hike of $6.90 starting June 1.
