Duke Energy Will Seek Smaller Rate Hike

Nov 20, 2017

RALEIGH, N.C. (AP) — The nation's largest electric company has agreed to seek a lower rate increase on more than a million North Carolina customers and charge a lower potential profit margin, but still wants nearly $200 million a year to clean up the toxic byproducts of burning coal.

Duke Energy Corp. and consumer advocates working for the North Carolina Utilities Commission said Monday they've agreed to a partial settlement as the company's seeks a reduced 13 percent rate increase. The company is now willing to accept a nearly 10 percent potential profit margin, down from almost 11 percent.

The two sides say still at issue is whether the Charlotte-based company's subsidiary in eastern North Carolina will be allowed to charge consumers the full cost of cleaning up its coal ash pits.

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