Source: NC PUBLIC NEWS SERVICE, 8/26/17

Duke Energy is looking to increase its rates for North Carolina an average of 13.6 percent, or approximately $647 million, according to a Security and Exchange Commission filing.

The request was submitted Friday to the North Carolina Utilities Commission.

The average North Carolina household uses 1,000 kWh and pays $102 per month, depending on the residence in the state. An increase of 13.6 percent would bump the average bill up $13.87 bringing it to a total of $115.87.

The rate increase request is due to planned plant addition or renovations and the Coal Ash Pond closure costs.

In 2014, Duke received negative news coverage regarding coal ash after an ash spill into the Dan River. The company was forced to close all 32 North Carolina ash basins. It is estimated that the total clean up costs for the ash spill will total $2.5 billion by 2021.

Other major capital investments from this rate hike, will build two new solar facilities, re-license 13 hydro facilities on the Catawba-Wateree river basins, build the new W.S. Lee Combined Cycle unit and more.

The company has requested the commission approve the rate increase to be effective in April 2018.
The Charlotte-based company’s shares rose 65 cents to $87.42 in Friday afternoon trading.