Duke Energy cuts proposed North Carolina electricity rate hike

Duke Energy Carolinas announced a significant reduction in its proposed residential electricity rate increase for North Carolina customers. The company lowered its two‑year request from the earlier 14.3%‑18% range to roughly 9.3%‑11.6%, with a 7.5% increase slated for 2027 and a 4.2% rise in 2028 under the revised plan. The cut follows months of consumer complaints and objections from Attorney General Jeff Jackson, Governor Josh Stein and the state’s public staff, who argued the original hike would strain household budgets.

The revised filing was submitted to the North Carolina Utilities Commission ahead of an evidentiary hearing scheduled for July 7. The commission will decide whether to approve, modify, or reject the request, with any approved rates expected to take effect on January 1, 2027. Jackson welcomed the reduction, calling it “a step in the right direction,” but said the fight over rates is not over.