The new year brings decreased electricity prices.
According to a news release, Duke Energy Carolinas customers in Charlotte, Durham, and the Triad will have their monthly electric price reduced by approximately $8.96.
According to Duke, a typical customer who uses approximately 1,000 kilowatt-hours per month will experience a 6.2% decrease in their bill. So, an average monthly bill of $144.31 will be reduced to $135.35.
A kilowatt-hour is a unit of measurement for how much electricity is utilized. One kilowatt-hour is the equivalent of around ten hours of television.
Duke says that this payment is around 22% lower than the national average electric bill, which is around $174.21.
Commercial and industrial customers will also experience a fall in their bills of approximately 11.5% and less than 1%.
Why the change?
Natural gas costs have fallen, according to the statement.
Every year, the North Carolina Utilities Commission assesses the cost of fuel used to generate electricity. According to the announcement, because natural gas costs fell in 2024, customers’ electric bills may fall as well.
Aside from dropping fuel prices, the commission increased customer rates based on nuclear output tax credits and an earlier increase in base rates approved in January.
About Duke
Duke Energy Carolinas serves 2.2 million commercial and residential customers in central and western North Carolina. According to the statement, Duke Energy Progress customers in Asheville, Raleigh, and eastern North Carolina have already seen their monthly bills reduce. In December, their rates fell by 4.5%.