Duke Energy Gave Incorrect Residential Rate Increase; Families to Pay 9.3% More, Not 6.8%

FOR IMMEDIATE RELEASE
Thursday, August 13, 2026
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RALEIGH - Duke Energy Progress claimed in rate case hearings this week that its residential ratepayers would pay about 6.8% more over the next two years. That testimony was incorrect. Duke Energy Progress residential households will actually pay about 9.3% more over the next two years.

"The details matter here, and Duke got it wrong under oath," said Attorney General Jeff Jackson. "A 6.8% increase was already too high for families, and Duke can't justify an even bigger increase. We're not signing this deal."

In testimony in front of the North Carolina Utilities Commission on Tuesday, Kendal Bowman, North Carolina President for Duke Energy Progress and Duke Energy Carolinas, testified that the residential rate increase would be 3.7% in Rate Year 1 and 3.1% in Rate Year 2 - or 6.8% in all.

However, that number is the average rate increase across all customer classes. NCDOJ's independent calculations and Duke's public statements indicate that the increase for residential ratepayers will actually be 9.3% over the next two years.

Duke's original filing asked for an 18.1% increase on residential rates over two years. Last week, Duke announced a settlement with the North Carolina Public Staff and others. While the proposed settlement lowers the increase, Attorney General Jeff Jackson declined to sign on to the settlement because the increase was still too high for families. More on his decision here.

The Utilities Commission hearing on the Duke Energy Progress rate case is ongoing, and the Commission will decide whether to approve or reject the proposed settlement. The new rates would take effect Jan. 1, 2027.

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