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.