Duke Energy Home Rates to Jump in August

Greg Wilson/Anderson Observer

Duke Energy is raising rates for residential customers by an average of $12 per month (8.7 percent) beginning Aug. 1. Commercial customers will see rate increases of 4.6 percent.

In a news release, Duke said the increases are needed to recover costs of improvements and reliability to the electrical grid and upgrades to power plants to meet growing demands. The funds will be used for the company’s new 40-story headquarters in Charlotte.

The rate hike is Duke’s third since 2022, when increases for residential customers rates were raised 8.2 percent, or around $11 per month.