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Duke Energy Progress customers face another sizable increase to power bills

Duke Energy Progress rates for electricity are on the rise again, as the average residential customer in North Carolina will see a $5 increase in his/her power bill that’s expected to go into effect Dec. 1 for rising fuel and renewable energy costs.

Citing a Duke spokesperson, the Charlotte Business Journal reports that the average monthly bill will rise to $120.63, up from $115.60.

This increase comes on top of a Duke Energy Progress rate increase imposed in March that amounted to a $7.63 increase on the average household bill that helped pay for system upgrades, coal ash cleanup and other costs. Duke Energy Progress’ service territory is primarily in eastern North Carolina, which includes Wake County, along with the Asheville area in the western part of the state.

This most recent hike would have been even higher, but the North Carolina Utilities Commission approved partially paying for the increase by using a cut in Duke Energy Progress’ annual tax bill that came as a result of the federal corporate tax cut passed last December. That saved ratepayers from having to pay an extra $103 million, the Charlotte Business Journal reports.

MORE: Duke Energy coal ash basins not in compliance with federal rules

Duke Energy Progress ratepayers also will see one additional increase that will go into effect on Jan. 1 — a 0.3 percent increase for “demand-side management programs designed to cut energy use at peak times,” the CBJ notes. That will add 34 more cents to the average residential customer’s bill, which will amount to $120.97 in all.

So doing the math here, the power bill for the average Duke Energy Progress residential customer will have risen approximately $12 in 2018. As it becomes more costly for power companies to do business, they have no choice but to pass their rate increases onto their customers.

These continuous rate increases are why switching to solar power continues to look better and better all the time. When homeowners power their homes with solar energy, their rate for power is locked in, allowing customers to significantly insulate themselves from the utilities’ rate increases, saving customers thousands of dollars. And once you pay off your solar system, you are generating completely free energy, allowing the average customer to save tens of thousands of dollars over the lifespan of his/her solar system.

With excellent solar technology available and the potential to receive a 30 percent federal tax credit on new solar systems, there has never been a better time to go solar than now.

With our innovative solar program, homeowners can go solar for $0 up-front cost, save money on their electric bills, and generate their own clean energy. The solar panels installed on your home are American-made and come with a 30-year warranty, with many panels expected to last well beyond that.

Please feel free to fill out the form below or contact Power Home Solar at 800-765-2715, and one of our solar representatives will help you determine whether your home qualifies for this program. Own your power, don’t rent your power!

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