Governor Reacts To Duke Energy Efforts To Charge Ratepayers An Additional $800 Million
RALEIGH, N.C. – Duke Energy has announced its intent to seek an additional $800 million in fuel costs from the Utilities Commission. Governor Stein issued the following statement:
“On top of a proposed 15% rate hike, Duke Energy is now asking North Carolinians to foot the bill for an additional $800 million in increased fuel costs. I vetoed Senate Bill 266 for exactly this reason: because it would further expose North Carolina ratepayers to volatile fuel markets and shift the cost of electricity from large industrial users onto the backs of regular people, making your utility bills more expensive. Republican legislators knew this too – but still left North Carolinians holding the bag. The Utilities Commission should step in to secure an affordable energy future for North Carolinians. We must do everything we can to make life more affordable for families, not more expensive.”
Last year, Senate Bill 266 became law over Governor Stein’s veto. Researchers from North Carolina State University and Duke University independently found that the bill would increase costs to North Carolina ratepayers by $23 billion in the coming years due to increased fuel costs.
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It sure hasn’t hurt Dukes record profits that they’ve been raking in. Nobody, and I mean nobody is looking after the people anymore. Stop putting faith in politicians, they’re all in on it.
Obviously the Governor is looking out for the people.
The republican senate doesn’t give two craps about us. It’s time for a majority change.
What does duke energy CEO make????maybe 6 million a year???
His total compensation was $13,652,630. Duke Energy’s annual profits (net income available to common stockholders) for 2025 were $4.912 billion
I have never seen a company or business be able to take advantage of being a monopoly like Duke Energy. All doubt was erased when they were allowed to charge a basic customer rate of $14 with full knowledge of the people not having any other options for power available.
Those that voted for it don’t have to worry about the next paycheck and how far it has to go.
I’ll take my business elsewhere. Wait. Duke is a regulated public monopoly. Seems like the regulators are in bed with Duke.
They’ll get it. When is enough enough?
They better get this s*** under control
I lived & worked out of the Lake Norman area 16 years ago. Relocated to the PNW & glad of it. Sure miss the NC weather, don’t miss the politics.
“It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.”
Thomas Sowell
and what are all those EXTRA charges for on my light bill…..Duke Energy has 2.8 million customers in NC..do the math…no wonder they are raking in profits….and why should WE have to pay for storm cleanup?????…their shareholders should have to EAT that. It’s part of doing business….and don’t you just love the little banner that runs across the bottom of your news feed that you can expect higher light bills next month because to the temps….well guess what Duke…my ac nor my heat have been cut on in over 6 weeks….so screw you!!!!
This is sad old people that’s on a fixed income can barely pay their light bill now y’all want to increase it this is getting out of hand.
Middle aged folks and young adults are also on a fixed income. Since the cost of living is surpassing the rate of wage increases, it feels like our income is shrinking, which is possibly worse than being “fixed.”
And this is the same state who cannot find a compromise for the budget that has left state employees and rural hospitals lacking the funds to pay for all of the increases. Let’s clean house in the General Assembly this November. Berger is the first, now let all of these people who continue derelict from their duties get out.
Duke energy is too big..it can dictate the rules ..it needs to be broken into 2 companies
Duke Energy has too many give away programs. They offered our electrical supply house an incentive to give away ceiling fans at no cost to the customer. We were interested in acquiring 18 fans at zero cost to us; however, Duke would reimburse the supply house $2200.00 for each fan. The fans only cost $500.00. We contacted Duke Energy; the rep told us they realized they were too high on their reimbursements and that they were going to look into the program at a later time.
Programs such as, and I’m sure there are many more, is where your money going through Duke Energy.
Yes. It’s because most regulated monopolies run on a “cost-plus” basis: they are allowed to make X% profit above their cost, so the higher the cost, the higher their profit. It’s in their best interest to “waste” as much as they can get away with.
A do-nothing response from a do-nothing AG that’s now a do-nothing Governor.
Did you actually read the article?
I did. All I see is a politician speaking to hear himself speak.
Making a statement does nothing and he knows it does nothing. It’s posturing.
@Kim: Of course, what did you expect. All the power is in the hands of the General Assembly. At this point, the gov is nothing more than a talking head.
If you were to look at the campaign financial records of the leaders of these NC Legislature committees:
1. Energy and Public Utilities – Rep. Arp (R), since 2013
2. Public Utilities and Energy – Former Rep Brawley (R), since 2011
3. Commerce and Economic Development – Rep Ross (R), since 2023
As long as the sheep keep voting the same way every year, nothing will change. #voteOutIncumbents #reapWhatYouVote