Duke Energy Progress, a division of Duke Energy Corp. (DUK), announced on Monday that its residential customers in North Carolina will experience a 4.5% decrease in costs due to the annual adjustment of fuel expenses associated with electricity generation.
As a result, a typical residential client in North Carolina consuming 1,000 kilowatt-hours monthly will see a cost reduction from $161.97 to $154.63.
Additionally, commercial customers are set to enjoy an average rate reduction of approximately 6.3%, while industrial customers can expect a modest decrease of less than 0.1%, as reported by the company.
This change in customer rates has received approval from the North Carolina Utilities Commission.
At present, Duke Energy's shares are valued at $115.39, marking a 1.41% decline on the New York Stock Exchange.
