PR Newswire·Jul 17, 2026, 7:07 PM ET

Duke Energy Carolinas reaches agreement with North Carolina Public Staff and other stakeholders to deliver a lower-cost path to power North Carolina's future

Duke Energy reached an agreement with the North Carolina Public Staff and stakeholders to reduce a proposed rate increase by more than half while maintaining infrastructure reliability.
The company will contribute $10 million in shareholder funds to assist low-income customers with bill payments and weatherization programs.
If approved by the North Carolina Utilities Commission, the new rates would result in an average annual increase of 3.7% over two years.
The agreement establishes a 9.8% return on equity with a 53% equity component in the capital structure.
A new Multiyear Rate Plan refund rider will return money with interest to customers if planned infrastructure upgrades are not completed on schedule.
Customer costs for Belews Creek reliability upgrades will be reduced due to the availability of federal funding.
Duke Energy intends to pursue similar terms for its Duke Energy Progress customers.
New rates are scheduled to take effect on January 1, 2027, pending final approval by the NCUC.