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Duke Energy proposes slight rate decrease for NC customers

Duke Energy Progress made its yearly filing with the North Carolina Utilities Commission for costs associated with fuel and various government mandates, such as renewable energy output.

The filing included a proposed decrease in monthly fuel costs as part of an annual adjustment of the actual cost of fuel used to power North Carolina homes and businesses through renewable, natural gas, nuclear and coal-fired generation. By law, the company makes no profit from the fuel component of rates.

According to Duke Energy estimates, the change on a typical bill would be an average decrease of 3.3 percent for residential customers, 4.4 percent for commercial customers and 1.9 percent for industrial customers. The total monthly impact of all rate changes for a typical residential customer using 1,000 kilowatt-hours (kWh) per month would be a decrease of $4, from $120.95 to $116.95.

The fuel rate is based on both prior costs as well as anticipated costs of fuel used to provide electric service to the company's customers. The Utility Commission is responsible for reviewing the actual fuel costs required to serve customers to ensure an accurate adjustment is made each year. The new cost adjustments and fuel rates would go into effect between December 1, 2019 and January 1, 2020.

Duke Energy Progress, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation, providing about 12,700 megawatts of owned electric capacity to approximately 1.6 million customers in North Carolina and South Carolina.