Duke energy raised the rates again! This time, they are a lot more sneaky about it. The rate is divided up as follows:
$14/mo basic customer charge
$1.22/mo renewable energy rider
Energy charge @ 11.661c/kWh
Storm Recovery @ 0.284c/kWh
"Summary of Rider Adjustments" @2.5c/kWh
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Actual rate before taxes: ~14.5c/kWh
Actual rate AFTER taxes: ~15.5c/kWh
Highlighted sections are the new rate structure. Most will look at the bill and think they dropped the rate from 13c to 11.6c per kWh, but they sneakily divided up the rate into two sections, and the summary rider adjustments section is shown as the total cost on the bill. To see the actual rates, you need to go to the index of rate schedules section on the Duke Energy website.
[see attached screenshot for detailed summary of rider adjustments breakdown]
It's crazy how rates have jumped 60% since ~2019 and are expected to DOUBLE starting 2026 according to a WRAL interview. Even those of us with solar aren't spared, because the grandfathered net metering contract expires in 2027 and the much less desirable bridge rate contract kicks in