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Duke Energy Carolinas proposes rate change for building a smarter energy futureCHARLOTTE, N.C., Aug. 25, 2017 /PRNewswire/ -- Duke Energy Carolinas' recent work to modernize power plants and generate cleaner electricity, responsibly manage coal ash and improve reliability while enabling more options for customers is at the heart of its request to change customer rates. "Through smart investments in cleaner energy plants and renewable resources, safely managing coal ash, and the grid that powers our lives and improves reliability, we are focused every day on providing customers increasing value and laying the foundation for a smarter energy future," said David Fountain, Duke Energy's North Carolina president. Duke Energy Carolinas serves 2 million households and businesses in central and western North Carolina, including the Triad and Charlotte. Duke Energy Progress, which serves electric customers in parts of central and eastern North Carolina and in the Asheville region, filed a similar request to adjust rates June 1. Duke Energy Progress customers will not be affected by this new request. Based on these investments, the filing with the North Carolina Utilities Commission (NCUC) requests to increase revenues by about $647 million, for an overall average rate increase across all customer groups of 13.6 percent. Since Duke Energy Carolinas' last request to adjust rates in North Carolina in 2012, this represents approximately a 2.5 percent annual increase. The specific increase for individual customer groups would vary, depending on the rate they pay. The average rate increase from the proposed changes for residential customers would be 16.7 percent, while commercial and industrial customers would see an average increase of 10.9 percent. If the proposal is approved by state regulators, a residential customer who uses 1,000 kilowatt-hours (kWh) of electricity monthly would pay about $122.68 per month, reflecting an increase of $18.72 per month. Duke Energy Carolinas has included in its request options to spread recovery of certain costs over multiple years to reduce the immediate impact on customer bills. Duke Energy Carolinas has maintained rates below the national average, and with the proposed change, customers would continue to pay rates lower than in 1991, when adjusted for inflation. "As our state grows, and as we think about the future energy infrastructure required to serve our customers, a smarter grid will facilitate cleaner energy sources and provide customers the tools they need to make more informed energy decisions," said Fountain. "We are committed to smart investments that balance the energy needs of our customers with competitive rates." Generating cleaner energy Nuclear energy is also a vital component of Duke Energy's generation portfolio now and in the future – providing reliable, carbon-free electricity to the Carolinas. However, Duke Energy is seeking NCUC approval to cancel the development of the Lee Nuclear project due to the recent bankruptcy of Westinghouse Electric Company, a subsidiary of Toshiba Corporation, and other market activity. Most notably, risks and uncertainties to initiating construction on the Lee Nuclear project have become too great and cancellation of the project is the best option for customers. Duke Energy will maintain the license to build new nuclear at this site in the future if it is in the best interest of customers. Investments include:
Managing coal ash responsibly and recycling byproducts Investments include:
Enhancing reliability and customer experience Investments include:
Public process For additional resources, visit duke-energy.com/DECNCRates. About Duke Energy Carolinas Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States. Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com. The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook. View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-carolinas-proposes-rate-change-for-building-a-smarter-energy-future-300509674.html SOURCE Duke Energy |