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Duke Energy Rate Deal Settles at 9.5% | Wilmington News
Duke Energy’s rate hike is down to 9.5% over two years — far from their initial 18% ask — but the state’s top legal officials still oppose it, calling the profit margin too high and warning of billions in potential savings for customers. The deal, approved by regulators and big business, covers most North Carolinians and includes a $10 million boost for low-income programs, with a merger of Duke’s two divisions set for 2027. While residential customers face 5.9% in Year 1 and 3.6% in Year 2, businesses see a 7.4% total increase. The Attorney General vows to fight, arguing the settlement still…
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