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Duke Energy Carolinas filed a petition with North Carolina regulators on Thursday seeking to raise residential electricity rates by nearly 18% over the next three years.

As part of the broad request, the company intends to use the additional revenue to invest in improving grid reliability and security, as well as increasing the amount of power it collects from renewable sources. If approved, the rate increase would affect Duke Energy Carolinas’ 2 million customers across central and western Carolina, including Charlotte, Durham, and the Triad.

According to the news release, the typical customer would experience an increase of $12.54 per month starting in January of next year, with smaller increases in the following years, bringing the total cumulative rate increase to 15.7-17.9%.

Read the full story here.

Duke Energy Carolinas Seeks to Increase Rates  was originally published on