Good news: Lower bills for Duke Energy customers due to falling fuel prices

Thanks to falling fuel prices, Duke Energy customers will see lower rates in December and January.

Starting Dec. 1, rates began dropping for Duke Energy Progress residential customers, which includes most of Raleigh and counties to the east.

Rates fell by 4.5% as part of an annual adjustment for the cost of fuel used to generate electricity at the utility’s power plants, according to Duke Energy.

"If the fuel market increases, then those costs can go up. If it decreases we pass that savings on to you," explained Jeff Brooks, a spokesperson for Duke Energy.

A typical customer in North Carolina using 1,000 kilowatt-hours per month will see an overall decrease of $7.34, or about 4.5% lower than prior rates, falling from $161.97 to $154.63, Duke Energy said.

The cost is 11% below the national average of $174.21.

A similar decrease for Duke Energy Carolinas customers in Durham and Chapel Hill will go into effect on Jan. 1, when rates for residential customers drop 3.6%.  

Commercial customers will benefit from an average decrease of about 6.3%, while industrial customers will see an average decrease of less than 0.1%.

WRAL News spoke with customers about how they feel about the rate drop.

"It will definitely be good," said Blake Murray, a Duke Energy Progress customer. "Because you’re definitely spending more money on other things during the holidays, so to save a little bit somewhere is always a good thing."

Rae Gaffney said her bill is too high for living in such a small space, and relief would be welcome.

"It’s too high," she said. "It’s probably about $170. I live right downtown in a condo. So it’s too expensive."

In 2023, Duke Energy proposed rate increases that would happen in increments over a 3-year span.

Jeff Brooks, a spokesperson for Duke Energy, said the extra revenue revenue generated from increased rates would go toward strengthening the power grid and transitioning to clean energy.

In February, North Carolina's attorney general, now Gov.-elect Josh Stein, appealed the rate increase, saying Duke Energy shouldn't be allowed to raise its rates on North Carolina customers as much as it planned to.

If allowed to go through, the planned increase would cause the average Duke Energy customer statewide to pay approximately $20 per month, or $240 per year, Stein said.

WRAL News has reached out to the North Carolina Department of Justice for an update on the appeal and where the proposal to raise rates stands. 

WRAL News has tips to lower your energy bill, including setting the temperature up or down 7 to 10 degrees when you’re asleep or away from home, switching to LED bulbs and cutting your shower time by a few minutes.