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2013 North Carolina rate case

Rate Case Update

On June 17, 2013, Duke Energy Carolinas finalized a rate case settlement agreement with the North Carolina Public Staff. View the news release for more information.

  • An average rate increase of 4.5 percent in the first two years
  • Rates will increase by an additional 0.6 percent after the first two years, for a total average of 5.1 percent
  • Return on equity of 10.2 percent
  • One-time $10 million shareholder contribution to assist low-income customers
  • Company agrees not to seek new base rates until 2015 or beyond

Duke Energy Carolinas is committed to providing affordable, reliable and increasingly clean electricity to our customers. Over the past six years, we have invested billions of dollars to construct new advanced-technology power plants.

The new power plants are now operating and serving our customers, so its time for the company to begin collecting the money it spent to construct them. On February 4, 2013, we filed a general rate case with the North Carolina Utilities Commission (NCUC). More than 90 percent of the request is driven by capital investments that Duke Energy Carolinas has made in the electric system that serves 1.9 million households and businesses in North Carolina. In addition to the investments in new generation, the rate request also seeks to pay for other proposals such as a new storm reserve fund and industrywide security upgrades. Learn more how rates are set at Electric Rates 101.

We have replaced older, less efficient facilities and upgraded others to meet increasingly strict environmental and nuclear security requirements. The result is a safer, cleaner and more efficient power system for our customers. Learn more about our advanced technology.

Investing in the systems that deliver electricity to homes and businesses is an important way we ensure reliability for today and tomorrow. The work we do every day is why were able to maintain a reliability rating of 99.97 percent, meaning that customers are "on" 99.97 percent of the time. On average, our customers experience one outage per year. Learn more about our commitment to reliability.

Duke Energy offers energy-saving programs to help customers cut monthly power costs and assistance for low-income customers. Learn more about saving energy and saving money.

For most families in North Carolina, the daily cost of powering their homes is somewhere between the price of a gallon of gas and a latte from a coffee shop. Learn more about the value of electricity.

The graph below shows the average increase for each customer class. You can also learn more about the North Carolina rate case here.

Customer type Proposed increase
Residential 11.8%
Commercial 9.6%
Industrial 5.3%
Lighting 5.4%

*This table shows the average impact of the proposed changes for each customer class. The specific increase or decrease to individual customers will vary depending on the rates they pay and other factors.