Duke Energy is seeking permission to merge Duke Energy Carolinas and Duke Energy Progress. (Photo: Duke Energy)
Democratic Attorney General Jeff Jackson is intervening in Duke Energy’s proposal to raise electricity rates in North Carolina.
Duke Energy’s request, filed with the NC Utility Commission Nov. 20, asks for a 15% rate increase over the next two years. This would apply to Duke Energy Carolinas and Duke Energy Progress, the company’s two utilities in the state.
“With costs rising everywhere, it’s important we take a close look at Duke Energy’s proposed rate increase to ensure it is necessary,” Jackson said in a statement on Tuesday. “My office is intervening to make sure we find the right balance between investing in our energy infrastructure and protecting North Carolinians’ wallets.”
Jackson’s move is backed by Democratic Gov. Josh Stein, who held the role of attorney general prior to his election as the state’s top executive.
In a statement released Tuesday afternoon, Stein described the proposed rate hike as “simply too high.” He also criticized Duke Energy for cutting back on affordable clean energy.
“At a time when families are struggling to make ends meet, we should be doing everything we can to make life more affordable, not less,” Stein said.
Duke Energy spokesperson Bill Norton told NC Newsline the company does not take requests to increase rates lightly.
He said the company is still awaiting a scheduling order from the NCUC for public hearings across the state in 2026.
A decision on the request requires evaluation from the NCUC and the commission’s public staff. Stakeholders like customer advocates and the attorney general are able to voice their concerns as well.
“We look forward to continuing a constructive dialogue with all parties as the review moves forward next year,” Norton wrote in an email.
The rate hike would result in a revenue increase of $1 billion for Duke Energy Carolinas each year, and $729 million for Duke Energy Progress, according to the company. If approved, the increases would increase beginning in 2027.
Monthly electric bills for a typical Duke Energy Carolinas residential customer using 1,000 kilowatt-hours per month would increase by $17.22 each month in 2027 if approved, according to the utility. For the same metric, the rate would increase by $23.11 each month for a typical Duke Energy Progress residential customer.
“Our goal is to deliver reliable power at the lowest possible cost for customers,” Duke Energy’s North Carolina president Kendal Bowman said in a statement announcing the proposed increases. “It’s important to strike the right balance of prioritizing investments that enhance the energy grid for current and future needs while also maximizing cost-saving measures for our customers.”
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