North Carolina regulators are weighing Duke Energy’s rate-hike requests that could raise power bills for customers across the state.
By Autumn Bracey
CHARLOTTE, N.C. — North Carolina Attorney General Jeff Jackson said he will not sign a proposed settlement in the Duke Energy Progress rate case that would raise residential electric bills by about 6.8% over the next two years.
The utility’s original filing had sought an 18.1% increase on residential rates over two years. Duke announced a settlement last week with the North Carolina Public Staff and other parties, and in testimony before the North Carolina Utilities Commission, Kendal Bowman, North Carolina president for Duke Energy Progress and Duke Energy Carolinas, said the residential rate increase would now be 6.8% over two years.
“Duke brought down their rate increase to 6.8%, but that’s still too high for families and still more than the company needs to cover its investments,” Jackson said. “We’re not signing it.”
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Regulators hold hearings
On Tuesday, the North Carolina Utilities Commission held hearings on the proposed increase.
WCNC spoke with NC WARN, a nonprofit that educates the public about Duke Energy’s practices. The group says that while customers have seen some wins with lower rates in the past, the new requests are a reminder of why it’s important to keep paying attention.
“I think it’s really important we question the reason for these rate increases,” Sara Heilman, clean energy strategist for NC WARN, said. “We understand the connection and correlation between requested rate increases and Duke Energy’s business model, which really serves to profit its executives and shareholders at the expense of affordability for North Carolinians.”
Rising bill despite falling usage
Heilman also pointed out that per-capita electricity use has actually declined over time, which she says makes it even more important for policymakers to scrutinize the data before approving any rate hikes.
“Our allies at the Energy and Policy Institute show customers, even using the same amount of electricity over the same years, are still seeing increases in their power bills,” Heilman said. “It really has a lot to do with Duke Energy’s investments in fossil fuels, like fracked-gas power plants, and the connection between those investments and the affordability crisis.”