CHARLOTTE, N.C. — Duke Energy Carolinas says it will raise rates for customers in central and western North Carolina, including the Charlotte area, over the next three years.
The North Carolina Utilities Commission approved a rate hike Duke asked for earlier this year. Duke initially asked for a 15.7% rate increase, but state leaders limited the hike to 14.6%. Duke Energy said the extra money will go toward infrastructure projects and helping low-income customers. According to a report from WFAE, rates will rise 8.3% beginning in January 2024, 3.3% in 2025 and 3% in 2026.
Duke said a typical customer would pay about $13 more per month in 2024. In 2025, the company expects that to go up another $5 and then a final increase of $3 in 2026. Charlotte residents protested the proposed rate hike over the summer, calling the increase "inequitable."
“We believe this is a constructive outcome that enables Duke Energy to maintain strong progress toward building a cleaner, more reliable energy future for our North Carolina customers while continuing to meet the energy demands of a growing and economically vibrant region," Duke Energy said in a press release.
In addition to giving the green light to rate increases, the ruling approved a new assistance program for low-income Duke customers. The program will provide a monthly $42 credit for qualifying households. Customers who already receive assistance from Duke's low income programs will automatically have their bills reduced with each rate increase.
"They would end up paying less than they are today as part of the program," Duke spokesperson Bill Norton said.
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