Frequently Asked Questions
When was the last time Duke Energy Carolinas increased its electric rates?
Base rates, which cover the company's cost to operate and maintain its electric system and provide the opportunity to earn a fair profit for investors, were last increased in early February 2012. In North Carolina, most customers saw an increase of 7.2 percent. In South Carolina, the average rate increase across all customer classes was 5.98 percent.
When does Duke Energy Carolinas plan to seek a rate increase?
Duke Energy Carolinas plans to seek an increase in its electric rates in North Carolina and South Carolina in early 2013. The company will file what's called a rate case with the state utility commissions.
Doesn't Duke Energy Carolinas change my rates every year?
A customer's electric bill is made up of two primary components: the base rate and the fuel rate. The base rate covers the company's cost to operate and maintain the electric system, including the opportunity to earn a fair profit for investors. Base rates are adjusted periodically to more closely align the rates paid by customers with the company's costs to serve them.
The fuel component, which increases or decreases annually, covers the company's costs for coal, natural gas, uranium and other fuel-related items to keep our power plants running. The prices reflect the actual costs the company incurs to fuel its power plants. The fuel rate is a pass-through to customers and doesn't include any profit.
How can I save on electricity costs?
You can't set your electric rate – but you do have some control over your electric bill. Duke Energy Carolinas has a number of programs in place to help you save energy and money. To learn more, visit our Youtility website.