Duke Energy Slashes Rate Hike After Public Pressure

Duke Energy is slashing its requested rate hike for North Carolina customers from 14.3% to 9.3%, a major reversal driven by public feedback at hearings. For average households, the increase drops from 18% to 11.6%. The company says it’s trimming costs without sacrificing reliability—by lowering profit margins on investments, shelving a coal plant fee study, and adjusting storm recovery costs, saving nearly $85 million. While praised as a rare act of responsiveness, state officials like Attorney General Jeff Jackson and Governor Josh Stein argue it’s still not enough, pushing for deeper cuts to shield families from funding corporate projects like data centers. The final decision rests with the Utilities Commission. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/3eca7e0e9e369f3b