Attorney general rejects Duke Energy Progress settlement over 6.8% rate hike
Attorney General Jeff Jackson will not sign a settlement that would raise Duke Energy Progress customers’ bills by 6.8% over two years.Summary
Attorney General Jeff Jackson of North Carolina has declined to approve a settlement proposed by Duke Energy Progress that would increase customers’ electricity bills by about 6.8% over the next two years. Duke had originally sought an 18.1% hike but reduced it to 6.8% in a recent agreement with the state’s Public Staff and other parties. Jackson argues the revised rate is still too high for families and exceeds the company’s investment needs, and he has also rejected a separate settlement from Duke Energy Carolinas that would have raised residential rates by roughly 9.5%. The settlement includes a clause that Duke would participate in a separate process for data centers and other large energy users, and shareholders would contribute $10 million to help customers pay bills and weatherize homes. The North Carolina Utilities Commission will decide whether to approve the settlement, which would take effect on January 1, 2027, if approved.
(Source：Witn)