Electric Bills Will Increase Under Proposed Duke Energy Progress Rate Hike

If approved, customers will see bills increase starting in December

Duke Energy Progress this week made its annual filings with the North Carolina Utilities Commission (NCUC) for costs associated with fuel and various riders, including state programs to encourage renewable energy adoption, and energy efficiency and demand management programs to reduce energy use.

Duke Energy Progress is seeking to recover fuel costs as part of its annual adjustment for the fuel used to power North Carolina homes and businesses. The company does not mark up the cost of fuel and is required by law to pass through the actual cost on a dollar-for-dollar basis to customers.

The NCUC reviews the fuel costs required to serve customers to ensure an accurate adjustment is made each year.

If approved, the new fuel and renewable energy adoption rates, along with the Joint Agency Asset Rider (JAAR), would go into effect Dec. 1, 2022, and the new energy efficiency and demand management rates would go into effect Jan. 1, 2023.

By Jan. 1, 2023 a typical bill would increase 8.4% for residential customers, 4.6% for commercial customers and 5.6% for industrial customers (residential customer rates would go up 9.0% as of Dec. 1 to adjust for fuel and renewable energy programs and JAAR, then decrease 0.6% on Jan. 1 when energy efficiency and demand management adjustments kick in).

The total monthly impact of all rate changes for a typical residential customer using 1,000 kilowatt-hours (kWh) per month would be an increase of $10.58, from $126.67 to $137.25.

What’s driving proposed increase

Rising energy demand as North Carolina emerged from the 2020 COVID-19 shutdowns resulted in a significant increase in fuel needs for power generation, compounded by fuel commodity prices climbing drastically in 2021 due to tight supplies.

The sharp increase in commodity prices contributed to a $210 million under-recovery across the prior year, when fuel prices rose after the company’s annual filing. The North Carolina fuel clause does not allow utilities to adjust rates during the billing period to prevent customer underpayment, so the proposed rates include recovery of this shortfall.

Duke Energy Progress serves about 1.5 million customers in central and eastern North Carolina and in the Asheville region.

The company’s other North Carolina utility – Duke Energy Carolinas – made its annual fuel filing in March. The company recently revised its Duke Energy Carolinas filing to reflect a January 2022 under-recovery on fuel costs; if approved by the NCUC, Duke Energy Carolinas residential rates would rise 9.6% in September to adjust for fuel and renewable energy programs, then decrease 1.3% on Jan. 1 when energy efficiency and demand management adjustments kick in.

27 COMMENTS

  1. Might as well increase the rates, everyone else is increasing prices. Would anyone else like some of my monthly paycheck?

    • You are just mad because your president lost. Biden is the best president ever! Haters are going to hate on the truth!

      • “Biden is the best president ever! Haters are going to hate on the truth!”

        Everyone, feast your eyes…these two statements were said TOGETHER….ahahhahahhahahahahahaha

        2000 mules….TWO THOUSAND MULES!

        • Your out of touch with reality or speaking out of sarcasum one, Joe Biden is a disgrace for this country, not everybody lives at Cypress point over by holt lake get a grip get back in touch with reality!

      • I just do not understand how anyone can say Biden has done anything but hurt the country and the people in it. 🤷🏻‍♂️

      • Wow I didn’t think there actually was anyone who thought that. I’m truly surprised there are still people who can’t see the destruction he has done to this great country. I’m glad you have so much money to afford this long term, be sure to donate to the rest of the population who is going to be on welfare due to his policies.

        • Lol. All of this is because of trumps tariffs he put on everyone and they told him what was gonna happen. The consumers where gonna be the ones paying for it. So here you go. Your paying for it. Gas is higher in other countries. Biden don’t run those countries

          • The “Trump tariffs” do not apply to oil or energy of any kind, nor any domestic product, nor those of Canada or Mexico. Ironically, Chinese flat screen TVs and appliances, that the tariffs DO apply to, are some of the few things that have not gotten more expensive.

            The price of oil is up in all countries because they all bid on and buy it from the same few sources, and US and Canadian production has been deliberately reduced, thus requiring OPEC, Russia, etc. to increase their production to keep up and allowing them to increase prices.

          • Actually Biden is part of the deal and it’s all bidens fault I’m not at sorry for what I’m saying to you, did you see china dare to fight with trump? Nope the entire world listened to trump and never made a threat to us so why is that? It’s because trump said I’ll make you not exist don’t mess with the RED AND THE WHITE AND THE BLUE!!!!!

        • Narcissist can never see or feel the pain and suffering that others are going through maybe they need to live on a fixed income like my family has to!

  2. I just love how they cite COVID in their justification. Funny how residential customers have a larger jump when industrial and commercial have a lower adjustment.

    • Well, you can sort of, partially blame it on COVID. COVID was the reason given for the shutdowns and handouts that caused the monetary inflation that is one of the things that increased their fuel costs.That and deliberate interference with domestic production.

      • Now there are some that are saying that this country should’ve never shut down the economy. You know what they say about hindsight? Damage has been done and continues to be so.

  3. And the hits just keep coming! This administration wants us broke and on welfare so we are dependent on them! Thanks Brandon!

  4. mr me, since apparently you support it and can afford it, would you take over my electric bill, grocery bill and gas bill….because I cannot and I absolutely didnt want this

  5. Biden hasn’t done anything for any of us except hurt us. The only ones that he may have helped are the sorry a$$’s that don’t want to work and want to live off of the system while the rest of us are out working like a dog everyday just to make ends meet. And all that has done has hurt the middle class working man even more

  6. Make sure all of you send your thanks to the religion of global climate change legal fund that successfully sued your power company into spending millions on top of millions of dollars to move coal ash from point A to point B. Who pays the bill for all of this religion of climate change nonsense? The consumer of Duke Energy does.

  7. Do they have to provide more services to all of these new developments to supply energy. How do they pay for it? Raise their rates. Another example how uncontrolled growth actually harms a community. Right jocoproud????

  8. I absolutely don’t want to pay more for electric but I’d certainly be happy if with my current rates they could keep the power on in my neighborhood during storms. This is the 2nd time in just over a week that we have lost power during a storm… this time we aren’t even getting rain but the power went out from the wind!! So ridiculous how horrible their infrastructure is!

Leave a Reply