Electric Rates Frequently Asked Questions
- What rate schedules does Duke Energy offer?
- How does Duke Energy's price for electricity in the Carolinas compare to its competitors' prices?
- Who sets the rates for my electrical service?
- Does Duke Energy offer time-of-use rates to business services customers?
A. Residential electric rates are available for individually metered residences, condominiums, mobile homes, apartments and other buildings that provide independent and permanent facilities complete for living, sleeping, eating, cooking and sanitation. Separately metered uses at a residence will be served under the general service schedule.
Q. How does Duke Energy's price for electricity in the Carolinas compare to its competitors' prices?
A. Duke Energy's price for electricity in the Carolinas compares favorably against the national average. Twelve years ago, we were 16 percent below the national average. Today, we are almost 22 percent lower. Since 1986 our rates have declined. When you consider the impact of inflation, our rates are 30 percent lower today than twelve years ago.
A. In virtually all states, public utility commissions set electric utility rates. The basic principle of utility rate regulation is to allow a fair return on investment, taking into account costs and risk levels.
A. Yes. Duke Energy Carolinas has offered time-of-use rates to business service customers in the Carolinas since 1975. These rates may be advantageous to companies that can adjust their operations to reduce power usage during daily peak demand periods and use power more economically in off-peak times of day.