Duke Energy is asking state regulators to approve steep rate increases beginning in 2027 and to authorize one of the highest returns on its Carolina operations among regulated utilities.
Higher return sought
The utility has requested raising its return on capital investments to 10.95%, nearly half a percentage point above the national average, according to a new report.
Will Scott, the North Carolina policy director with the Environmental Defense Fund, said regulators could ask Duke to provide more justification for such a high return.
“Bills are projected to skyrocket and emissions at this point are projected to increase. I don't think we're hitting either of the metrics that we would consider measures of success for a utility when it comes to modernizing our electric system,” Scott said.
‘I'm scared.’
An increase in returns for Duke would have a small impact on bills, but that small change could have a significant impact on North Carolina’s low-income households.
“A $50 addition over six months is real money. It's real money,” said Carol Hardison, CEO of Crisis Assistance Ministry.
About one‑fifth of Duke Energy Carolinas customers are behind on payments, and disconnections continue to rise as many ratepayers come off pandemic‑era repayment plans. Last year, disconnections increased 37%.
“The changes were introduced over time to preserve flexibility for customers experiencing temporary hardship, while also addressing unpaid balances and helping manage costs for all customers,” a Duke Energy spokesperson said in a written response.
Charlotte resident Julia Burgess said she fears she could be disconnected next.
“I'm scared. I'll be very honest … my pay tomorrow’s the 23rd. I have to call Duke Energy now and say, ‘Hey, if I don't have the money on the 23rd…’ I just got a text saying if the payment isn’t in on the 23rd, the installment plan is void,” Burgess said.
Duke Energy provided a written statement that said disconnections are the last step in the company’s collection process.
“We keep customers informed of past due balances and potential disconnections, adhering to North Carolina Utilities Commission rules. Customers who receive disconnection notices can contact our Customer Service Team to explore what options they have to avoid an interruption in service and/or by exploring payment and agency assistance information on the Duke Energy website.”
Resources for folks facing disconnections:
- Crisis Assistance Ministry offers financial counseling and bill relief for those facing disconnection and insurmountable utility bills.
- Duke Energy’s Flex Savings Option could save money depending on your usage. From your account dashboard, navigate to “Rate Comparison” to learn if this option might cost less.
- Energy Saver NC offers North Carolina residents rebates up to $16,000 on home energy upgrades. Renters and multifamily building owners can apply, though renters require landlord approval.
- Energy Funds for All has compiled a list of tools to help folks lower their power bills.
- Mecklenburg County offers programs for low-income residents struggling with high power bills.
- Duke Energy lists “Tips for Tenants” to help renters lower their energy bills. The “Multifamily Energy Efficiency Program” can provide free energy-saving products to landlords.
