Duke Energy is selling up to $3.1B in net tax credits to hand ratepayers relief. (Business NC)
The context: North Carolinians’ electric bills have climbed an average of 22% since 2020, and Duke is asking for another 15%+ residential hike. In March, customers urged an audit of Duke’s rates.
The breakdown: The credits—earned through nuclear and solar investments and expected to pile up through 2029—will split $2B for Duke Energy Carolinas, $700M for Duke Energy Progress, and $350M for the company’s Florida operations. The buyer? An undisclosed third party.
The long game: Duke also estimates $2.3B in savings from 2027-40 by consolidating its two Carolinas units, which state regulators signed off on last week. Duke says “all savings will flow to customers.”