Duke Energy trims North Carolina residential rate hike to 9.5%
Duke Energy, the largest electric utility in North Carolina, initially filed a request with the North Carolina Utilities Commission (NCUC) for an 18% increase in residential electricity rates. After negotiations with consumer advocates and state officials, the company reduced its proposal, now seeking about a 9.5% residential increase that would translate to an average annual rise of 3.7% over two years, roughly 7.4% overall across all customer classes.
The revised filing also lowers Duke's allowed return on equity from 10.95% to 9.8%, though state Attorney General Jeff Jackson says the figure remains too high and continues to press for further reductions. The NCUC is expected to issue a decision in the coming weeks. In a separate initiative, Duke Energy signed the federal Ratepayer Protection Pledge, committing to ensure that new data centers and other large power users fund the transmission and distribution infrastructure they require. The utility also agreed to a fast‑track process to develop new rules for such large users, aiming to protect existing residential customers from bearing indirect costs.
State officials, including Governor Josh Stein and Attorney General Jackson, have praised the pledge but stress that voluntary commitments must be codified through the commission's regulatory process.
Entities: Duke Energy · Harry Sideris · Jeff Jackson · Josh Stein · North Carolina Utilities Commission
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [○ 1 SOURCE] Duke Energy agreed to participate in a fast‑track process to develop new rules for data centers and other large energy users. (fast‑track process agreement)
- [○ 1 SOURCE] Duke Energy lowered its allowed return on equity from 10.95% to 9.8%. (return on equity adjustment)
- [○ 1 SOURCE] Duke Energy reduced its residential rate increase proposal to about 9.5%. (revised rate proposal)
- [● 2 SOURCES] Duke Energy initially proposed an 18% residential electricity rate increase in North Carolina. (proposed rate increase)
- [○ 1 SOURCE] Duke Energy signed the Ratepayer Protection Pledge to ensure data centers pay for their own power and infrastructure costs. (pledge participation)
- [○ 1 SOURCE] Attorney General Jeff Jackson says the proposed rate increase is too high and continues to push for lower rates. (state official opposition)
- [○ 1 SOURCE] The North Carolina Utilities Commission is reviewing the rate request and will decide in the coming weeks. (commission review timeline)
- [○ 1 SOURCE] The revised proposal calls for an average annual increase of 3.7% over two years, about 7.4% overall for all customers. (average increase figures)