Duke Energy Carolinas proposes annual adjustment for fuel and other riders with North Carolina Utilities Commission. Top StoriesGreensboro police officer who was shot resigns following Golden Gate Drive incidentMedical marijuana bill passed by North Carolina SenateTwo tractor-trailers involved in collision that killed a man, troopers sayGet the latest news stories of interest by clicking hereDuke Energy Carolinas is planning to recover costs from 2022 for the fuel used to generate electricity for North Carolina homes and businessesIf approved by the North Carolina Utilities Commission (NCUC), residential rates would increase 16.6%-16.2% by Sept. 1, followed by 0.4% on Jan. 1, 2024.The total monthly impact of these rate changes for a residential customer using 1,000 kilowatt-hours (kWh) per month would be an increase of $19.10, from $115.01 to $134.11.If approved, rates would remain below the national average of $161.81 as of summer 2022, before other utilities' expected rate increases from the same market pressures. "Fuel costs to generate electricity has more than tripled over the last year, which is a challenge faced by energy providers across the country," Duke Energy's North Carolina president Kendal Bowman said."Our rates in North Carolina are far below the national average and we're doing everything we can to keep customer bills as low as possible," Bowman said.According to a release from Duke, "the company does not profit from these increased fuel costs and proactively takes measures to insulate customers from volatility."Watch: NOWCAST streaming newscastsNAVIGATE: Home | Weather | Watch NOWCAST TV | Local News | National | News We LoveTRENDING STORIES Keep up with local news, weather, and current events with the WXII app here