© 2022 WFAE
90.7 Charlotte 93.7 Southern Pines 90.3 Hickory 106.1 Laurinburg
Play Live Radio
Next Up:
Available On Air Stations

Regulators Give Final OK To Duke Rate Increases Starting June 1

Duke Energy has seven coal-fired power plants in the Carolinas, including the Allen Steam Station in Belmont.
David Boraks
Duke Energy's Allen Steam Station in Gaston County.

Regulators have given final approval to rate increases that begin June 1 for customers of Duke Energy's two North Carolina divisions.

Rates for Duke Energy Carolinas, which covers most of western North Carolina including Charlotte, will rise an average of 0.7%. That's less than $2 a month for a typical household using 1,000 kilowatt hours of electricity.

Rates will rise an average of 4.7% on June 1 for customers of Duke Energy Progress, which serves the Asheville area and most of eastern North Carolina. The monthly bill for a typical customer using 1,000 kilowatt hours will increase by just over $6 over the next two years.

Commercial and industrial customers would see smaller percentage increases.

Duke says that rates are not rising as quickly as they might have because of excess income taxes it charged customers and is now refunding. The company says the refunds will continue for five years. After two years and five years, rates will go higher.

Regulators approved Duke's rate requests earlier this year, along with settlement agreements with various groups. Those settlements reduced what Duke originally requested.

David Boraks is a veteran journalist who covers climate change for WFAE. See more at www.wfae.org/climate-news. He also has covered housing and homelessness, energy and the environment, transportation and business.