Duke Energy has proposed a plan in August to merge its two subsidiary utilities operating in the Carolinas, a move the company says will ultimately save customers money. However, this announcement comes at the same time as requests for new rate increases across the state, raising concerns among customers, advocates and public officials.
On August 14, Duke Energy filed with regulators in North and South Carolina to combine Duke Energy Carolinas, which serves Western North Carolina, the Charlotte region and parts of South Carolina, with Duke Energy Progress, covering a vast 29,000 square miles in central and eastern North Carolina and northeastern South Carolina. Notably, this merger proposal stands apart from pending rate increase requests currently under review.
Duke Energy claims that merging its Carolinas subsidiaries will streamline operations and reduce costs. The company projects that efficiency improvements could lead to customer savings exceeding $1 billion by 2038, with potentially greater efficiencies anticipated thereafter…