By admin 
RALEIGH, N.C. (WNCN) — Duke Energy, the utility provider for much of North Carolina, including the state’s largest cities, has reduced its proposed rate increase for the second time in less than a month.
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On Friday, the utility company said Duke Energy Carolinas would be lowering its requested rate hike to an average of 3.7% over two years. The original proposal was to raise costs 18% for residential customers, but after objections from the public as well as North Carolina Attorney General Jeff Jackson, Duke Energy Carolinas lowered it to 11.6% on June 22.
“In light of the cost pressures our customers are facing, along with continued conversation with other stakeholders, we felt we had to do more,” said Kendal Bowman, Duke Energy’s North Carolina president, said in a news release Friday. “We appreciate our stakeholders’ engagement in finding a path that allows us to more cost-effectively serve the Tar Heel State.”
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The reduced rate is in a new agreement between the company and the North Carolina Utilities Commission. The power company said it is also going “to pursue similar terms for its Duke Energy Progress customers.”
The North Carolina Utilities Commission still needs to approve the rate increase. If it is approved, the new rates will go into effect on Jan. 1, 2027.
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