North Carolina Utilities Commission

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.

Environmental groups are challenging North Carolina’s decision to pause Duke Energy’s utility-scale solar and battery projects until a long-term plan is approved. The state commission argues this prevents overcommitment to potential surplus energy, while environmental groups claim the delay risks missing tax incentives and increasing customer costs due to growing electricity demand.

Duke Energy is reducing its proposed rate increase from 18% to 11.6% following pushback from North Carolina Attorney General Jeff Jackson. The revised proposal still requires approval from the North Carolina Utilities Commission, with a hearing scheduled for July 7 and a final decision expected in the fall. If approved, the new rates would take effect on Jan. 1, 2027.