NC Duke Energy customers see bill uptick due to storm costs

Dec 2, 2021

Duke Energy electric customers in North Carolina will now see a new line-item charge on their monthly bills to repay $1 billion in bonds the company issued to get repaid for repairs from 2018 and 2019 storms. The storm recovery charge will mean a roughly $2.40 increase for the average Duke Energy Progress residential customer and 50-cent increase for a similar Duke Energy Carolinas customer. The General Assembly gave Duke Energy the ability to issue the bonds to get reimbursed, rather than go through normal rate case requests with state regulators. The utility says that resulted in $300 million in savings.