NC regulators approve temporary rate increase for Duke Energy Carolinas

CHARLOTTE, N.C. — Regulators say Duke Energy Carolinas can impose a temporary rate increase of $235.3 million in annual revenue on its roughly 2 million customers in North Carolina starting Aug. 24.

But none are likely to notice.

Duke will offset the rate hike by returning to customers the equivalent of $235.3 million annually from excess deferred taxes at the same time. 

The intent is to leave customers’ monthly bills unchanged until the N.C. Utilities Commission can consider and approve new rates for the utility. The financial two-step allows Duke to start recovering many of the costs of investments in plants and other infrastructure now, despite a delay in when the commission can act on the rate proposals.

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