Duke Energy Files Requests With North Carolina Utilities Commission To Raise Rates For Its Duke Energy Carolinas And Duke Energy Progress Utilities. Company Is Seeking Annual Revenue Increases Of $1B For Duke Energy Carolinas And $729M For Duke Energy Progress

Author: Benzinga Newsdesk | November 20, 2025 04:33pm

Duke Energy today filed requests with the North Carolina Utilities Commission (NCUC) for revised rates at Duke Energy Carolinas and Duke Energy Progress, its two utilities in the state.

By the numbers: The company's filing with the NCUC requests an annual revenue increase of $1 billion for Duke Energy Carolinas ($727 million in 2027, $275 million in 2028), which represents a 15% increase over current revenues, and $729 million for Duke Energy Progress ($528 million in 2027, $200 million in 2028), a 15.1% increase over current revenues. The company's requests are based on a 10.95% return on equity and 53% equity capital structure and are subject to NCUC approval.

• If approved, monthly electric bills for typical Duke Energy Carolinas residential customers using 1,000 kilowatt-hours per month would increase $17.22 a month – from $144.98 to $162.20 – starting Jan. 1, 2027, followed by a $6.34 increase on Jan. 1, 2028. Across 2027-2028, commercial customers would see an average increase of 8.7% and 3.9% while industrial customers would see an average increase of around 6.3% and 3.4%.
• If approved, monthly electric bills for typical Duke Energy Progress residential customers using 1,000 kilowatt-hours per month would increase $23.11 a month – from $163.84 to $186.95 – starting Jan. 1, 2027, followed by a $6.59 increase on Jan. 1, 2028. Across 2027-2028, commercial customers would see an average increase of 9.2% and 4.6% while industrial customers would see an average increase of around 7.4% and 4.3%.

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