Duke Energy says customer rates will drop Jan. 1 by a little over 6%
RALEIGH, N.C. (WTVD) -- Customers will see rates drop by 6.2% on Jan. 1 because of the falling fuel prices, Duke Energy Carolinas said.
This is part of the annual adjustment for the fuel cost used to generate electricity at its power plants, as well as other ride adjustments.
According to Duke Energy, a typical residential customer in the Tar Heel state using 1,000 kWh per month will see an overall decrease of nearly $9 from current rates, falling from about $144 to about $135.
This is 22% below the national average of about $174, a difference of about $466 per year.
Commercial customers will also see an average decrease of about 11.5%, as well as an average decrease of less than 1% for industrial customers, the electric power company said.
SEE ALSO | Duke Energy's new control facility works to keep lights on during severe weather
Duke Energy Progress customers across the state are already seeing a 4.5% decrease, which went into effect Dec. 1.
Savings and Falling Fuel Prices
The North Carolina Utilities Commission (NCUC) approved this year these adjustments after reviewing the fuel costs needed to generate electricity for customers as well updates for state programs:
- Decrease of 8.8% to adjust for falling fuel prices.
- Decrease of 0.6%, resulting from nuclear production tax credits from the Inflation Reduction Act. Over half of Duke Energy's power in the Carolinas comes from carbon-free nuclear.
- Adjustments of less than 1% to riders for customer assistance, storm securitization, and energy efficiency and demand-side management programs to lower energy use.
- Increase of 2.9% to base rates.
This results in a collective 6.2% rate reduction for typical customers, according to the electric power company.
Duke Energy Carolinas serves about 2.2 million households and businesses in central and western North Carolina, including Charlotte, Durham and the Triad.
SEE ALSO | Carrboro leaders sue Duke Energy for damaging the environment, costing town, lawsuit says
Featured video is from a previous report.
