Duke Energy Progress LLC on March 2 filed new electric rates pursuant to a North Carolina Utilities Commission order issued in February.
According to a company release, the Duke Energy Corp. subsidiary filed new rates reflecting the settlement reached with the commission's public staff on costs related to natural gas units and four new solar projects. The commission had also approved the utility's past investments related to environmental compliance with state and federal regulations to permanently close ash basins at eight sites in the Carolinas.
Upon the final approval from NCUC, electric rates will increase by an average of 4.7% in the first four years to account for a return of state income taxes, and an additional 1.3% average increase thereafter, all on annualized basis. The annualized bill for a typical residential customer using 1,000 kWh of electricity per month will increase to $113.49. (NCUC Docket No. E-2, Sub 1142)
