Attorney General Jeff Jackson Intervenes in Second Duke Energy Rate Case to Save North Carolina Families Another $960 Million

FOR IMMEDIATE RELEASE
Wednesday, July 15, 2026
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RALEIGH - Attorney General Jeff Jackson filed testimony arguing that Duke Energy Progress's 15% proposed rate increase is too high and would force ratepayers to pay nearly $960 million in unnecessary rate hikes over the next two years. This comes after Attorney General Jackson and others objected to the proposed rates in the Duke Energy Carolinas case, which led to the utilities company lowering its proposed rate increase for residential customers by more than 6 percentage points.

"When we pushed back again Duke's last rate hike, they lowered their request," said Attorney General Jeff Jackson. "Now Duke wants families in eastern North Carolina to pay 15% more, and we're pushing back again. Our experts found that Duke can make the investments it needs while charging families far less. That's the result we're fighting for."

Duke Energy Progress provides energy to the eastern half of North Carolina and Asheville.

Attorney General Jackson is making three key arguments through the expert testimony filed with the North Carolina Utilities Commission:

1. DEP's customers should not have to pay a 10.95% percent return on equity. Attorney General Jackson is arguing that a 7.4% percent return on equity would still meet Duke's needs while saving ratepayers $960 million over the next two years.

   Right now, the average Duke Energy Progress household pays about $165 every month. About $21.50 of that is profit that goes to Duke's shareholders. Under Duke's proposal, the average household would pay about $195 a month by 2028, an 18% increase in just two years. Of that, about $41, or 21%, would be profit. That means about one in every five dollars a customer pays Duke would go to the company's profit and its shareholders.

   NCDOJ's expert witness argues that setting rates using Attorney General Jackson's recommendation of a 7.4% return would save ratepayers $960 million over the next two years, or roughly $420 per residential customer.

2. DEP should create a new, separate rate class for data centers and other large energy users. A new rate class would account for the strain these large energy users put on the grid and the additional generation Duke has to build to serve them, instead of forcing residential and business ratepayers to shoulder the majority of the costs.
3. DEP should offer its largest energy users, including data centers, a path to generate their own power and save millions for North Carolina families.

The North Carolina Utilities Commission will decide whether to approve, reduce, or reject Duke's proposed increase. A decision is expected this fall, and if approved as filed, new rates would begin taking effect on January 1, 2027. NCDOJ will continue participating in the case on behalf of North Carolina's electricity customers.

The testimony for the DEP Rate Case can be read here. The Utilities Commission will start a hearing on the DEP Rate Case on August 4.

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