Electric rates 101
Here in the Carolinas, a utility is assigned a certain area and is required to serve all the customers in that service area with rates that are fair and reasonable.
But who decides what’s fair and reasonable?
State utility regulators do, through a public and transparent process called a rate case. Their job is to balance the needs of customers with the needs of the utility.
The rates are based on the revenue the utility needs in order to build, operate and maintain its power plants, poles and wires – plus the opportunity to earn a fair return. Without a reasonable return on their investment, shareholders would not provide us the money needed to keep serving our customers.
This video shows how rate cases work.
Learn the details of the 2013 North Carolina Rate Case and how it will impact you.