Most Active Stories
- Governor McCrory Says NC Teachers Will Receive Pay Increase; Medicaid Expansion Still Uncertain
- Many Paths, Only One Leads You Home
- FTCC Offers Free Training for Unemployed, Underemployed and Some Military Veterans
- Doctor Who Illustrated, NC A&T Choir Live in Studio A, Civil War Monuments, and the Nutcracker
- The Art of Sharing, A Dozen Dresses, Photography of Fred Stein, Edward Steichen and More
Wed September 25, 2013
NCUC Approves Rate Hike for Duke Energy
The rate hike was given the green light on Tuesday. The company says rates will go up a total of $205 million, or 4.5 percent for the first two years, increasing by 0.6 percent thereafter. The total increase in rates after September of 2015 will be $235 million, or an average increase of 5.1 percent for all of Duke's customers in North Carolina.
After September 2015, the bill for an average residential customer, using 1000 kilowatt-hours of electricity per month, will increase to $110.32, from the current $102.72, or $7.60 per month. This includes an increase in the basic customer charge to $12.19 per month, from the current $9.90.
The increase was initially agreed upon in a settlement between Duke Energy Carolinas and the North Carolina Public Staff, which represents consumers.
In a statement released Tuesday, Duke Energy's President for North Carolina Paul Newton said, "We're pleased the North Carolina Utilities Commission has approved our revenue request. The decision reflects a balance between the needs of our company and those of our customers."
The Associated Press says North Carolina Attorney General Roy Cooper could appeal the rate increase.