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Duke Energy seeks 9.7 percent rate hike

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CHARLOTTE, N.C. (Charlotte Observer) — Duke Energy Carolinas is asking regulators for permission to raise its rates for North Carolina residents by 9.7 percent, according to The Charlotte Observer.

This rate hike would increase resident bills by about $14 a month.

The $446 million in new annual revenue from the increase, would help pay for two new power plants and upgrades to nuclear plants as well as other capital expenses.

The increase would be Duke’s third rate increase since 2009.

Read more at The Charlotte Observer