Duke Energy Progress is proposing an 18.7% annual rate hike for residents over the next three years.
The North Carolina Utilities Commission is holding the last public hearing on this proposal Tuesday, March 21, at 7 pm at the Robeson County Courthouse — located at 500 N Elm St. in Lumberton.
Members of the public who want to speak must register beforehand on a signup sheet in the hearing room.
For residents using 1,000 kilowatt-hours per month, their monthly bill would go up about 25 dollars by October 2025, according to Duke Energy.
Duke Energy said the reasons for this increase are to address costs from improving its electric grid, increasing reliability by continuing the transition to clean energy, closing coal ash basins, using new billing and customer information systems, maintaining the company’s nuclear fleet, and the company’s COVID-19 response.
Duke Energy spokesperson Bill Norton said that even if the proposal is approved, the rates at the end of three years would still be below the summer 2022 national average.
According to NCUC, increases would be partially offset by a yearly tax refund of $8.5 million over the three years from excess deferred income taxes due to the 2017 Federal Tax Cuts and Job Act and a reduction in NC’s state-corporate tax rate.
The company is also including a proposed Customer Assistance Program that would give eligible low-income residential customers a flat monthly credit of $42 to their bill.
Another aspect of the proposal is an energy efficiency program that Duke Energy said would offer financial incentives that could help offset rising costs.
Duke Energy Progress serves much of Eastern NC, including Wilmington, and parts of Western NC on the Tennessee border.
Duke Energy Carolinas, which primarily serves central and Western NC, also proposes a roughly 16% annual rate hike for residents by September 1. If approved, that would go up another 0.4% on January 1.
For Duke Energy Carolinas residential customers using 1,000 kilowatts per hour monthly, that would mean an increase of $19.10 each month.
