CHARLOTTE, N.C., July 18, 2018 /PRNewswire/ -- Duke Energy
Carolinas today filed new rates for North
Carolina customers based on the North Carolina Utilities
Commission's (NCUC) order issued June
22. The proposed changes in customer rates include savings
from recent federal tax reform. The new rates will remain below the
national average, even after adjustments are made to reflect
investments in cleaner, more reliable energy.
"The recent federal tax reform provides a unique opportunity to
pass the direct benefits of that reform to customers," said
David Fountain, Duke Energy's
North Carolina president. "With
the North Carolina Utilities Commission's decision in hand, we will
deliver real savings to customers while providing the full benefits
of cleaner, more reliable electricity."
Rate impact by customer group
Electric rates will be phased in over four years to account for a
return of North Carolina state income
taxes. Rates will decrease by an average of 1.34 percent across all
customer groups when approved by the NCUC and adjust to a 0.22
percent decrease in August 2022.
The following chart illustrates the net rate change by customer
group, which will go into effect after final NCUC approval:
Average net rate change percentage – Years 1-4
- Residential: 0.30 percent
- General Service: -2.58 percent
- Industrial: -3.86 percent
Average net rate change percentage – After Year 4
- Residential: 1.19 percent
- General Service: -1.57 percent
- Industrial: -2.70 percent
These numbers show
the average impact of the compliance rates for each customer group.
The specific increase or decrease for individual customers will
vary depending on the rate they pay and other
factors.
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The annualized bill for a typical residential customer using
1,000 kilowatt-hours (kWh) of electricity per month will increase
to $104.69 from the current
$103.85 once new rates are approved
by the NCUC.
The NCUC approved the company's partial settlement with the
Public Staff, which includes costs related to a highly efficient
natural gas plant and two new solar projects.
Also approved by the NCUC are the company's Lee Nuclear project
development costs and past investments to permanently close ash
basins at eight sites in the Carolinas in compliance with state and
federal regulations.
The final rate order can be viewed at the NCUC website (NCUC
Docket No. E-7, Sub 1146).
Helping customers manage their energy costs
Duke Energy shareholders will contribute $4 million to help low-income customers who
qualify for bill assistance through the Share the Warmth energy
assistance fund.
"We're committed to helping customers manage electricity costs
through energy efficiency programs, bill-lowering tools and
assistance for low-income customers," said Fountain.
Customers can learn more about saving energy and money on their
bill at duke-energy.com/savings.
Duke Energy Carolinas
Duke Energy Carolinas owns nuclear, coal, natural gas,
renewables and hydroelectric generation. That diverse fuel mix
provides approximately 19,600 megawatts of owned electric capacity
to about 2.5 million customers in a 24,000-square-mile service area
of North Carolina and South Carolina.
Duke Energy Carolinas is a subsidiary of Duke Energy (NYSE:
DUK).
Headquartered in Charlotte,
N.C., Duke Energy is one of the largest energy holding
companies in the U.S., with approximately 29,000 employees and a
generating capacity of 49,500 megawatts. The company is
transforming its customers' experience, modernizing its energy
grid, generating cleaner energy and expanding its natural gas
infrastructure to create a smarter energy future for the people and
communities it serves.
The company's Electric Utilities and Infrastructure unit serves
approximately 7.6 million retail electric customers in six states –
North Carolina, South Carolina, Florida, Indiana, Ohio
and Kentucky. Its Gas Utilities
and Infrastructure unit distributes natural gas to approximately
1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit
operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018
"World's Most Admired Companies" list and Forbes' 2018 "America's
Best Employers" list.
More information about the company is available at
duke-energy.com. The Duke Energy News Center includes news
releases, fact sheets, photos, videos and other materials. Duke
Energy's illumination features stories about people, innovations,
community topics and environmental issues. Follow Duke Energy on
Twitter, LinkedIn, Instagram and Facebook.
Contact: Meredith Archie
24-Hour: 800.559.3853
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SOURCE Duke Energy