It’s not much, but it is an increase

Duke Power is raising electric rates so that they can develop future renewable energy sources. North Carolina renewable energy standards allow the utility to increase rates to support future sources so they can meet the state’s renewable energy standards.  The utility already has fees in the rates.  The rate increases are $0.35/MWh for consumers for Duke Energy customers and $0.63/Mwh for Duke Energy Progress customers.  I’m sure all the folks in North Carolina are happy to be doing their small part for renewable energy.

I haven’t heard how much the rates going up to pay for coal ash cleanup.


6 responses to “It’s not much, but it is an increase

  1. Oh yeah, we’re thrilled.

  2. I’m happy to have Tampa Electric Co. in my area. :)

    TALLAHASSEE — Unraveling Duke Energy’s two nuclear power plant debacles in Florida will cost more than expected and customers will have to pay sooner than expected.
    The tab for the shuttered Crystal River nuclear plant and the canceled Levy County reactors: $5 billion — and growing.

    Duke Energy Florida’s 1.7 million customers are on the hook for more than half of that.

    And how much electricity will customers get out of the multi-billion dollar Crystal River and Levy fiascos?

    Not a single kilowatt.

    What customers will get are bills to cover Duke’s spending spree. They total about $108 million a year in nuclear fees through 2017.

    Customers will have to pay $3.45 per 1,000 kilowatt hours for Levy and $2.17 for Crystal River for a total of $5.62 for the average customer. That includes an extra 89 cents that state regulators approved Monday to cover the cost of increasing power at the Crystal River plant.

    The new fees will begin showing up on customer bills Jan. 1.

    Those fees don’t include the $200 million to $300 million a year for replacement power that Duke continues to buy because Crystal River no longer operates.

    “It’s no different to me than grand theft,” said state Rep. Mike Fasano, R-New Port Richey. “The Legislature needs to investigate. How did this happen?”

  3. Duke is a regulated, monopolistic utility. They have a guaranteed rate of return. By law. Duke didn’t create the law, nor the renewable energy standard. Duke complies with the RES law and adjusts their rates. Trying to paint Duke bad because of it is silly.

    • Agreed. Duke is simply following NC’s renewable standard. I’m also pretty sure that Duke and Progress had significant input on how the law was written.

    • Coach Springer

      How’s about I paint them “parasitic” then? As in, a tick is neither good nor evil, but it sucks your blood and may give you a fatal disease or two.

  4. Coach Springer

    The ability of an industry to charge for future research and development might be a slight clue to the minimally aware that renewables market interference is insane. (OK, if they were minimally aware, we wouldn’t have a system that demands renewables for renewables sake without any significant effect on anything except increased prices and the establishment of subsidy farming.

    Let them write the expense off, but please, please … take that “investment” from me without so much as my consent?

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