CHARLOTTE — Duke Energy is reducing its proposed rate hike request after pushback from North Carolina Attorney General Jeff Jackson.
According to the Department of Justice, Duke is lowering its proposed average rate increase for Carolinas customers from nearly 15% to 9.3% over the next two years.
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Residential customers will see the biggest change with the rate increase going from 18% to 11.6%. That would be a 7.5% increase in 2027 and a 4.2% increase in 2028.
According to Duke Energy, the utility was able to lower their rate request but reducing their expected profit rate over the next two years and removing infrastructure projects for large electricity users from the request.
The change comes after months of customer testimony about high bills and a challenge from the NC Department of Justice which argued customers should not pay unfair costs associated with rapid data center development.
The proposal still needs to be reviewed by the North Carolina Utilities Commission.
A hearing on the case is scheduled to begin July 7.
A final decision is expected this fall. If the increase is approved as proposed, the new rates would begin taking effect on Jan. 1, 2027.
A Duke Energy spokesman said the utility is also evaluating its options for reducing its 15% rate request for Duke Energy Progress customers. The NCDOJ is also intervening in that case.
Hearings for the DEP rate request start Aug. 11.