Duke Energy announces possible rate increase

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Friday, August 25, 2017
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CHARLOTTE (WTVD) -- On Friday, Duke Energy announced that customers may soon see a rate increase.

The company said the change stems from its recent efforts to modernize power plants, generate cleaner electricity, and manage coal ash.

Officials said their goals is to "improve reliability while enabling more options for customers."

Based on recent investments, it plans to increase revenues by roughly $647 million for an overall rate increase across all customer groups of 13.6 percent.

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The specific increase for individual customer groups will vary, depending on the rate they currently pay.

The average rate increase from the proposed changes for residential customers would be 16.7 percent, while commercial and industrial customers would see an average increase of 10.9 percent.

If the proposal is approved by state regulators (North Carolina Utilities Commission), a residential customer who uses 1,000 kilowatt-hours (kWh) of electricity monthly would pay about $122.68 per month, reflecting an increase of $18.72 per month.

"As our state grows, and as we think about the future energy infrastructure required to serve our customers, a smarter grid will facilitate cleaner energy sources and provide customers the tools they need to make more informed energy decisions," said Duke Energy's North Carolina president, David Fountain in a news release. "We are committed to smart investments that balance the energy needs of our customers with competitive rates."

Since similar rates were recently enforced for Duke Energy Progress customers, they will not be affected by this change.