Duke Energy Progress reaches settlement cutting proposed North Carolina rate hike to 3.4% over two years
DUK•Effective date if approved
If regulators sign off, new rates would take effect Jan. 1, 2027.
Customer bill assistance and refunds
Shareholders will contribute $10 million for low-income bill assistance, on top of a separate $10 million contribution tied to Duke Energy Carolinas.
The plan also includes a MYRP refund rider tied to delayed infrastructure work, along with accelerated refunds of $120 million in annual federal tax credits.
Settlement reduces proposed rate increase
Duke Energy Progress reached a settlement with North Carolina Public Staff to cut its proposed rate increase by more than half.
The settlement implies an average annual 3.4% increase over two years, subject to North Carolina Utilities Commission review.
