Duke Energy customers in North Carolina to enjoy bill drops & Save up to $480 Annually

Photo byDuke Energy

Starting January 1, Duke Energy customers in North Carolina will experience a reduction in their electric rates, as announced by the company. This decrease is part of the annual adjustment to account for the cost of fuel used in electricity generation.

For residential customers, the typical monthly bill for 1,000 kilowatt-hours will drop by $5.17, from $142.17 to $137. This new rate is 23% below the national average of $177.09, resulting in an annual savings of approximately $480. Commercial customers will see an average decrease of about 7.4% in their bills, while industrial customers will experience a smaller reduction, averaging less than 1%.

However, this relief is temporary for residential customers, as rates are expected to rise by about $2.14 per month for 1,000-kWh users starting in September. This increase stems from a settlement agreement with the North Carolina Utilities Commission.

A similar decrease for Progress Energy customers is under review by regulators. If approved, the new rates will take effect on December 1.