Duke Energy’s rate increase begins soon

CINCINNATI (WXIX) — Duke Energy is increasing prices for its Ohio customers starting June 1.

Last week, public utility regulators in the state approved a plan to allow Duke Energy to raise rates over the next three years.

“The prices that we pay for the electricity on the wholesale markets are going up,” explained Duke spokesperson John Juech.

Juech says the company needs to raise rates to cover the costs of infrastructure improvements, adding that 2024 was the most productive to date for providing reliable service.

“We are putting a little more than $7 million into energy efficiency programs, so we’re making investments there, and then we’re also making significant investments into assistance programs for low-income customers,” said Juech.

Estimates vary, but according to Duke, the residential rate increase is about 2.5 cents per kilowatt hour.

That increase will add about $8 to the average monthly bill or about $96 annually.

Juech says Duke no longer owns power generation plants in Ohio, so they have to buy the electricity and then sell it to their customers.

“It’s not a matter of us making more profit or anything like that,” explained Juech. “The prices that we pay are going up.”

The Public Utilities Commission of Ohio (PUCO) advises customers to check their utility bills closely. Especially if you have two charges: a fixed generation charge from Duke Energy and a supply charge from a company like Dynergy.

The new charges are for Duke Energy customers in Ohio who are not part of a government aggregation program or enrolled with a competitive supplier.

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