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.
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.
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