Duke Energy Asks for Another Rate Hike

The energy affordability crisis was already bad enough.  Duke Energy just announced that it’s about to make it even worse. 

While their previous rate hike request is still pending, Duke said last week that it will raise residential customers’ bills AGAIN starting in June, just to recover the costs of its increasingly expensive reliance on fossil fuels like methane gas. Already a volatile commodity subject to wild market price swings, the cost of methane gas is being impacted by the war against Iran as well.

Taking Every Penny from Hardworking Families

“In its latest request, Duke Energy is asking to recover fuel costs from January’s winter storms, spreading out the cost recovery over 19 months. Duke Energy Carolinas reported under-recovering a projected $500 million since September 2025,” reports WFAE’s Climate News. “The new rates would take effect June 1. They would increase average rates for Duke Energy Carolinas customers by an additional $6.90 per month and $7.88 per month for Duke Energy Progress.” 

Governor Josh Stein blasted Duke’s request. “On top of a proposed 15% rate hike, Duke Energy is now asking North Carolinians to foot the bill for an additional $800 million in increased fuel costs,” said Stein. “I vetoed Senate Bill 266 for exactly this reason: because it would further expose North Carolina ratepayers to volatile fuel markets and shift the cost of electricity from large industrial users onto the backs of regular people, making your utility bills more expensive. Republican legislators knew this too – but still left North Carolinians holding the bag.” 

“The Utilities Commission should step in to secure an affordable energy future for North Carolinians,” concluded Stein. “We must do everything we can to make life more affordable for families, not more expensive.”

How Did We Get Here?

SB 266 – mislabeled by its sponsors as a “Power Bill Reduction Act” – instead actually increases costs. “Recent independent analysis of Senate Bill 266 shows that this bill could cost North Carolina ratepayers up to $23 billion through 2050 due to higher fuel costs,” noted Governor Stein in his veto message last year. “This bill not only makes everyone’s utility bills more expensive, but it also shifts the cost of electricity from large industrial users onto the backs of regular people – families will pay more so that industry pays less.” 

Last week’s call by Duke for more cash from consumers was the first use of those provisions, but until state legislators wise up and reverse course – or the NC Utilities Commission starts to do its job of real ratepayer protection – there will be many more rate hikes to come. 

What Can You Do About It?

Take some time to make a difference today by:

• Calling the Utilities Commission at 1-866-380-9816 and demand they regulate Duke Energy so we can have affordable, clean energy;
• Writing to your lawmakers! The 2026 NC General Assembly session begins tomorrow. Demand that your lawmakers support clean, affordable energy laws and policies;
• And helping us track and report how lawmakers vote, then holding them accountable if they fail to prioritize people and the planet. You can help by donating today!