Duke Energy Carolinas announces rate decrease. How much you could save starting Wednesday
The new year is bringing in lowered electricity bills.
Duke Energy Carolinas customers, which includes Charlotte, Durham and the Triad, will see an approximate $8.96 decrease in their monthly electric bill, according to a news release.
A typical customer who uses about 1,000 kilowatt-hours per month will see about a 6.2% decrease in their rate, Duke said. So an average monthly bill of about $144.31 will go down to $135.35. A kilowatt-hour measures the amount of electricity being used. One kilowatt-hour is equivalent to having a television on for about 10 hours.
Duke adds that this payment is about 22% below the national average electric bill, which sits around $174.21.
Commercial and industrial consumers will also see a decrease in their bills by about 11.5% and less than 1%, respectively.
Why the change?
Natural gas prices have decreased, according to the release.
Every year, the North Carolina Utilities Commission reviews the cost of fuel needed to generate electricity. Since natural gas prices decreased in 2024, according to the release, electrical payments from customers can also go down.
Besides falling fuel prices, the commission adjusted customer rates based on nuclear production tax credits and the previous increase to base rates that were approved last January.
About Duke
Duke Energy Carolinas serves 2.2 million businesses and households in central and western North Carolina. Duke Energy Progress customers in Asheville, Raleigh and eastern North Carolina have already seen a decrease in their monthly bill, according to the release. In December, their rates decreased by 4.5%.
This story was originally published December 31, 2024 at 11:57 AM.
