Duke Energy Carolinas reaches agreement, proposed 3.7% increase

Duke Energy Carolinas has reached an agreement to continue offering affordable energy services.

The company primarily serves customers in western North Carolina, including Guilford, Alamance, Mecklenburg, Graham, and Cherokee counties. 

The agreement would result in an average annual rate increase of 3.7% over two years. 

“In light of the cost pressures our customers are facing, along with continued conversations with other stakeholders, we felt we had to do more,” said Kendal Bowman, Duke Energy’s North Carolina president. 

The additional money received from the rate increase will be used to continue building infrastructure, according to a statement released by Duke Energy Carolinas. 

Duke Energy Progress customers could soon see a price increase of 18% total residential rate increase over two years as well. 

The proposed agreement will be submitted to the North Carolina Utilities Commission (NCUC) for approval. If approved by the commission, new rates will go into effect Jan. 1, 2027.