Duke Energy proposes new investments in North Carolina to boost reliability and support economic growth across the state

Core Viewpoint - Duke Energy has filed requests with the North Carolina Utilities Commission for revised rates, seeking an annual revenue increase of $1 billion for Duke Energy Carolinas and $729 million for Duke Energy Progress, both representing approximately a 15% increase over current revenues [2][15]. Rate Increase Details - The proposed rate increase for Duke Energy Carolinas includes $727 million in 2027 and $275 million in 2028, while Duke Energy Progress requests $528 million in 2027 and $200 million in 2028 [2]. - If approved, typical residential customers using 1,000 kilowatt-hours per month would see their bills increase by $17.22 for Duke Energy Carolinas and $23.11 for Duke Energy Progress starting January 1, 2027 [7]. Cost-Saving Measures - Duke Energy has implemented various cost-saving measures, including reducing operation and maintenance expenses and enhancing grid reliability through self-healing technology, which has reduced outages significantly [3][4]. - The company has also trimmed 43,500 miles of vegetation and replaced over 116,000 distribution poles to improve service reliability [5]. Economic Growth and Customer Base - Duke Energy serves 3.6 million retail customers in North Carolina and has added approximately 150,000 customers over the last two years, driven by economic growth and rising electricity demand [9]. - The company is investing in infrastructure to support this growth, including $1.7 billion in battery storage projects and nearly $400 million in solar projects [13]. Customer Assistance Programs - Duke Energy offers various programs to help customers manage their energy costs, including energy efficiency programs that deliver savings significantly better than the national average [11][10]. - Specific programs include free home energy assessments and financial incentives for energy efficiency upgrades [14]. Future Outlook - The North Carolina Utilities Commission is expected to hold public hearings in spring 2026, with a final order on new rates anticipated in late 2026 [16]. - If the request to combine Duke Energy Carolinas and Duke Energy Progress is approved, it would mark the final base rate review for these utilities as separate entities [15].