Duke Energy Carolinas

North Carolina Attorney General Jeff Jackson rejected Duke Energy's proposed 9.5% residential rate increase over two years, arguing it still overcharges consumers. Governor Josh Stein also criticized the settlement, urging data centers to cover their electricity costs. Duke Energy claims the increase is necessary for infrastructure investments, but the deal requires approval from the North Carolina Utilities Commission.

North Carolina Attorney General Jeff Jackson rejects a proposed rate settlement with Duke Energy Carolinas, arguing the 9.5% residential rate increase over two years is still too high despite a reduction from the original 18%. Jackson advocates for a lower profit rate of 7.4% instead of the 9.8% included in the settlement.

Duke Energy Carolinas reduced its requested rate increase to 3.7% over two years after a settlement with Public Staff and consumer advocacy groups. The adjustment includes lowering the utility's return on equity by 11% and removing $173.2 million in large-load interconnection projects from the current rate case, with potential refunds for customers if infrastructure delays occur. The settlement also establishes a framework for handling large energy users and requires quarterly project updates.

Attorney General Jeff Jackson announced that Duke Energy Carolinas has reduced its proposed residential rate increase following objections. The adjustment comes after concerns were raised about the initial rate hike.

Regulatory commissions in North and South Carolina approved a merger between Duke Energy Carolinas and Duke Energy Progress, two major electricity providers in the region. The merger occurs amid industry consolidation, with NextEra Energy also acquiring Dominion Energy, which serves parts of northeastern North Carolina. Duke University’s Jackson Ewing discussed the implications of these developments with Newsline.