Duke Energy Seeks Up to 18% Rate Increase Over Two Years

Customers say they can't afford higher utility bills amid inflation and rising costs.

Apr. 7, 2026 at 2:39am

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A highly detailed, photorealistic studio photograph of a polished metal electrical transformer or substation component floating against a clean, monochromatic background, dramatically lit to convey the abstract corporate strategy behind Duke Energy's rate increase proposal.As Duke Energy seeks to raise rates to fund grid upgrades, the utility's request highlights the delicate balance between necessary infrastructure investments and the financial strain on customers.Today in Raleigh

Duke Energy has requested a rate increase of up to 18% over the next two years from state regulators in North Carolina. The utility cites the need to add 150,000 new customers, build 10 new substations, and make grid improvements to meet growing energy demands. However, customers are concerned about the impact of higher electric bills on their already strained budgets due to inflation and rising prices.

Why it matters

The proposed Duke Energy rate hike comes at a time when many North Carolina residents are already struggling with the high cost of living, including surging prices for gas, groceries, and other essentials. This could further strain household budgets and force some customers to make difficult choices about how to allocate their limited funds.

The details

Duke Energy says the rate increase is necessary to fund infrastructure upgrades, including 10 new substations and thousands of grid improvements, to serve a growing customer base that has expanded by 150,000 in the past two years. However, customers like Tim Wilcox and Kenneth Thompson argue that Duke should find ways to manage costs without passing them on to ratepayers who are already stretched thin.

  • Duke Energy will make its case to the North Carolina State Utilities Commission on Tuesday, April 7, 2026.
  • If approved, the rate hike would start in 2027 with an average monthly increase of $17 for customers.
  • An additional $6.34 per month would be added in January 2028.

The players

Duke Energy

A major electric utility company serving customers in North Carolina and other southeastern states.

Tim Wilcox

A Duke Energy customer from Lincolnton, North Carolina who is concerned about the proposed rate increase.

Kenneth Thompson

Another Duke Energy customer who believes people cannot afford higher utility bills on top of rising costs for other essentials.

North Carolina State Utilities Commission

The state regulatory body that will decide whether to approve Duke Energy's request for a rate increase.

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What they’re saying

“Families are struggling left and right, inflation, everything else going up.”

— Tim Wilcox, Duke Energy Customer

“Tell them no.”

— Kenneth Thompson, Duke Energy Customer

What’s next

The North Carolina State Utilities Commission will hear Duke Energy's case for the rate increase on Tuesday, April 7, 2026. Customers will have the opportunity to voice their concerns about the proposed hike during the regulatory proceedings.

The takeaway

This rate increase request from Duke Energy highlights the difficult balance between necessary infrastructure investments and the financial strain on customers already dealing with high inflation and the rising cost of living. The outcome of this case could set an important precedent for how utility companies approach rate hikes during periods of economic uncertainty.