For the first time since 2011, higher fuel-related costs to increase monthly bills for the utility's customers in North Carolina
CHARLOTTE, N.C. -- Duke Energy Carolinas this week made its annual filings with the North Carolina Utilities Commission (NCUC) for costs associated with fuel, compliance with the state's renewable energy portfolio standard (REPS), and implementation of energy efficiency (EE) and demand-side management (DSM) programs.
Duke Energy Carolinas makes a fuel cost-recovery filing annually in North Carolina. The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true-up of the prior year's projection.
This year's proposed increase is primarily the result of a net loss from the sale of beneficial generation byproducts, such as gypsum and coal ash. While the sales resulted in a net loss, beneficially reusing byproducts can provide potential savings to customers when compared to other disposal methods.
Renewable Energy/Energy Efficiency
Duke Energy Carolinas has filed to recover the costs of implementing a suite of programs designed to help reduce customers' energy consumption and save them money on their energy bills. The residential increase is primarily due to increased participation in these programs.
For non-residential customers, the fee adjustment is the result of increased program costs and participation coupled with the impact of fewer non-residential customers electing to participate in the company's rider.
Duke Energy Carolinas filed for a decrease in the monthly charge to customers for the utility's compliance with the state's renewable energy portfolio standard (REPS). This proposed decrease is primarily due to the return of an overcollection in REPS cost for the 2016 true-up period.
If approved, the new fuel and REPS rates will go into effect Sept. 1, 2017. The EE and DSM rates will go into effect Jan. 1, 2018.
About Duke Energy Carolinas
Duke Energy Carolinas owns nuclear, coal-fired, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 19,700 megawatts of owned electric capacity to about 2.5 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
24-hour media line: 800.559.3853