- Falling fuel prices result in lower customer rates
- Annual bills for typical residential customer are
$235 below national average
CHARLOTTE, N.C., Dec. 2, 2024
/PRNewswire/ -- Starting Dec. 1,
rates for Duke Energy Progress residential customers in
North Carolina fell by 4.5% as
part of an annual adjustment for the cost of fuel used to generate
electricity at the utility's power plants.
A typical residential customer in North Carolina using 1,000 kilowatt-hours
(kWh) per month will see an overall decrease of $7.34, or about 4.5% lower than prior rates,
falling from $161.97 to $154.63. That is 11% below the national average
of $174.21 – a difference of
approximately $235 per year.
Commercial customers will benefit from an average decrease of
about 6.3%, while industrial customers will see an average decrease
of less than 0.1%.
Duke Energy Progress serves about 1.5 million customers in
central and eastern North
Carolina, including Raleigh, as well as the Asheville region.
A similar decrease for Duke Energy Carolinas customers will go
into effect on Jan. 1, when rates for
residential customers drop 3.6%.
Customer Savings Driven by Falling Fuel Prices
To ensure accurate rates, the North Carolina Utilities
Commission (NCUC) annually reviews the fuel costs required to
generate electricity for customers, along with rider updates for
state programs to encourage clean energy adoption and reduce energy
use. The NCUC issued its order approving the annual adjustment on
Nov. 13.
Duke Energy Progress works to actively manage fuel contracts to
keep costs as low as possible for customers. Bills reflect actual
fuel costs – customers pay what we pay. Additionally, carbon-free
nuclear provides about half of North
Carolina's generation and helps minimize price swings. Learn
more at Fuel Costs & Your Bill.
Duke Energy Progress
Duke Energy Progress, a subsidiary of Duke Energy, owns 13,800
megawatts of energy capacity, supplying electricity to 1.7 million
residential, commercial and industrial customers across a
28,000-square-mile service area in North
Carolina and South
Carolina.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in
Charlotte, N.C., is one of
America's largest energy holding companies. The company's electric
utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio
and Kentucky, and collectively own
54,800 megawatts of energy capacity. Its natural gas utilities
serve 1.7 million customers in North
Carolina, South Carolina,
Tennessee, Ohio and Kentucky.
Duke Energy is executing an ambitious clean energy transition,
keeping reliability, affordability and accessibility at the
forefront as the company works toward net-zero methane emissions
from its natural gas business by 2030 and net-zero carbon emissions
from electricity generation by 2050. The company is investing in
major electric grid upgrades and cleaner generation, including
expanded energy storage, renewables, natural gas and
nuclear.
More information is available at duke-energy.com and the Duke
Energy News Center. Follow Duke Energy
on X, LinkedIn, Instagram and Facebook, and visit illumination for
stories about the people and innovations powering our energy
transition.
Contact: Bill Norton
24-hour media line: 800.559.3853
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SOURCE Duke Energy