Duke Energy Rate Dispute Yields Partial Settlement and Attorney General Challenge in North Carolina

Duke Energy Carolinas reached a partial settlement with North Carolina regulators that would raise residential electricity bills by $9.39 in 2027 and $5.52 in 2028, trimming the company's original 18% hike to an 11.6% increase. The deal, praised by the state’s consumer advocate and Governor Josh Stein, still requires approval from the five‑member Utilities Commission.

Attorney General Jeff Jackson filed testimony in a second rate case, arguing that a proposed 15% increase for Duke Energy Progress is excessive. He recommends a 7.4% return on equity and a separate rate class for large users such as data centers, claiming the changes would save North Carolina ratepayers roughly $960 million over two years. The commission is set to hold a hearing on August 4 and will decide on the proposals later this year.