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Duke seeks 12.6% increase in electric rates

Posted June 2, 2009

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— Duke Energy (NYSE:DUK) has filed a request with the North Carolina Utilities Commission to raise its electric rates in the state by 12.6 percent.

"Customers count on us to provide power that is affordable, reliable and clean. This rate increase helps ensure that we deliver on that commitment today and in the future," Brett Carter, president of Duke Energy Carolinas, said in a statement. "We recognize that this is a challenging time to ask customers to pay more for electricity, so we didn't make this decision lightly."

If regulators approve the increase, the average residential bill – for 1,000 kilowatt-hours of electricity – would increase by about $11 a month.

Although the company adjusts fuel costs on an annual basis, Duke's last general rate increase in North Carolina was in 1991, the company said. Duke's electric rates in North Carolina are 31 percent below the national average and 24 percent blow other utilities in the Southeast, the company said.

The rate increase, which would take effect next year if approved, would boost annual revenue from Duke's North Carolina retail operations by about $496 million, the company said.


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  • FairPlay Jun 2, 2009

    Needs to say Duke Energy in article header not "Duke"

  • mochabrown Jun 2, 2009

    Someone's salary is about to be boosted. Wow, talk about having no mercy.

  • DML Jun 2, 2009

    Go ahead and get your licks in now power company. Go ahead and get a rate increase out in front of the public. Once they pass the "cap and trade" tax that's going through Congress to save the environment, there will be another much larger increase.

  • lyteoflife Jun 2, 2009

    wow....increase huh....and who can afford it right now???? Have they gotten the memo and the state our economy is in...and I am sure they will not think twice about turning off someones power in these hard times that we are having. AMAZING how everyone works together to pull our country back in order

  • pommom12 Jun 2, 2009

    I wonder who is going to get the 12.6% bonus or raise.

  • me2you Jun 2, 2009

    Some people have no conscience. We're in a recession and they want to raise prices.

  • FoxtrotUniformCharlieKiloakaCALM Jun 2, 2009

    Well I guess too many people were conserving power! First water, now power. I'm not that surprised.

  • micah Jun 2, 2009

    Quite affordable! We have enjoyed some of the lowest utility rates in the Country for decades. Even with this increase it is still far below the US average.

  • Big Brother1 Jun 2, 2009

    Good thing we're not in a recession huh?


  • iron fist Jun 2, 2009

    affordable ?? with a 12.6 percent increase?