Duke Energy Progress customer rates to fall Dec. 1 in North Carolina

     Duke Energy Progress customer rates to fall Dec. 1 in North Carolina

PR Newswire

CHARLOTTE, N.C., Nov. 26, 2013

CHARLOTTE, N.C., Nov. 26, 2013 /PRNewswire/ --Duke Energy Progress customers
in North Carolina will pay less for electricity beginning Dec. 1.

(Logo: http://photos.prnewswire.com/prnh/20130322/CL81938LOGO )

As approved by the N.C. Utilities Commission (NCUC), the bill for a
residential customer using 1,000 kilowatt-hours (kWh) of electricity per month
will decrease $2.12, or nearly 2 percent, from $111.39 to $109.27.

The decrease reflects changes in three components of the rates N.C.
residential customers pay. The changes, based on a monthly 1,000-kWh bill,

  oA decrease of $1.22 in the monthly amount customers are charged for fuels
    used to generate electricity;
  oa decrease of 68 cents in the monthly charge used to pay for
    energy-efficiency and demand-side management programs; and
  oa decrease of 22 cents per month in the charge for adding renewable energy
    as required under state law.

Commercial customers would see an average 2.2 percent decrease per month, and
industrial customers would see an average 1.1 percent monthly decrease.

"We know that electricity makes up a significant portion of customer expenses,
and that any rate reduction can benefit North Carolina families and
businesses," said Paul Newton, Duke Energy president – North Carolina. "Lower
costs and efficiencies achieved as a result of our merger have helped to
provide savings that we can pass on to our customers in the coming year. We
will continue to work to provide safe, reliable, affordable and increasingly
clean energy now and in the future."

Duke Energy Progress, a subsidiary of Duke Energy, serves 1.3 million
customers in North Carolina, including the cities of Raleigh, Wilmington and

The utility 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

The NCUC reviews fuel costs and adjusts the fuel component of customer rates

By law, the company makes no profit from the fuel component of rates.

The company also files annually to recover the costs of implementing programs
designed to help reduce energy consumption and save customers money on their
energy bills, and for costs associated with the utility's renewable energy

Under North Carolina's energy law passed in 2007, Duke Energy Progress was
required to supply customers with renewable energy equivalent to 3 percent of
retail sales by 2012. The utility met that requirement, which increases to
12.5 percent in 2021.

Duke Energy Progress encourages customers to learn all they can about using
energy wisely – to save energy and money. Customers can learn about available
energy-efficiency programs and incentives at www.duke-energy.com/save.

Duke Energy Progress, a subsidiary of Duke Energy (NYSE: DUK), provides
electricity and related services to nearly 1.5 million customers in North
Carolina and South Carolina.

Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded
on the New York Stock Exchange under the symbol DUK. More information about
the company is available at: www.duke-energy.com.

Contact: Jeff Brooks
Office: 919.219.9215 | 24-Hour: 800.559.3853

SOURCE Duke Energy

Website: http://www.duke-energy.com
Press spacebar to pause and continue. Press esc to stop.