Duke Energy seeks 6% rate rise for customers in WNC

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RALEIGH, N.C. (AP) – About 2 million Duke Energy customers in central and western North Carolina would face an average 6% rate increase if state regulators approve the country’s largest electric company’s request.

Duke Energy said Monday it needed another $290 million a year to recoup spending on grid upgrades, coal-ash cleanup, storm repairs and to increase its potential profit margin to 10.3%. The company also proposes recouping money faster for three coal-burning power plants, potentially leading to earlier closings.

The proposal would add about $8.06 per month to the typical residential customer’s bill.

A rate increase that took effect last year was expected to increase residential rates by 1.2% over four years.

The Duke Energy subsidiary serving eastern North Carolina is expected to file a new rate request within a month.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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