Duke Energy N.C. Residential Customers to See 4.5% Cost Decrease

Dow Jones

Dec 02, 2024

By Chris Wack

Duke Energy said that the North Carolina Utilities Commission has approved a request to lower residential customers' costs by 4.5%.

The company said that starting Dec. 1, rates for Duke Energy Progress residential customers in North Carolina fell by 4.5% as part of an annual adjustment for the cost of fuel used to generate electricity at the utility's power plants.

The company said that a typical residential customer in North Carolina using 1,000 kilowatt-hours per month will see an overall decrease of $7.34, falling from $161.97 to $154.63.

Commercial customers will see an average decrease of about 6.3%, while industrial customers will see an average decrease of less than 0.1%.

Duke Energy Progress serves about 1.5 million customers in central and eastern North Carolina.

A similar decrease for Duke Energy Carolinas customers will go into effect Jan. 1, when rates for residential customers drop 3.6%.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

December 02, 2024 10:24 ET (15:24 GMT)

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