Earlier this year, Duke Energy formally requested to raise North Carolinians’ electric bills– despite already bringing in record-breaking profits. As Americans are struggling under the skyrocketing cost of living and many families are facing disconnection notices, Duke Energy has dedicated their year to raising costs even higher. 

It’s been a prime example of greedy corporations demanding too much – and North Carolinians have rallied together to fight back. Thanks to Attorney General Jeff Jackson and the North Carolinians who filed testimony with the North Carolina Utilities Commission, Duke Energy announced that they would lower their rate hike request from 18% to somewhere between 6.8% and 9.3%. 

Whether it’s 6.8% or 9.3% – it’s still too much. Duke Energy already has some of the highest profit margins of utility companies in the nation. They recently announced that they earned $2.6 billion worth of profits in the first half of the year, up almost 12% from a year ago. 

So on Tuesday, North Carolinians came together to speak out before the final expert witness hearing in Raleigh. 

Community leaders spoke to how residential electricity bills have climbed nearly 30% from 2017 to 2024 in North Carolina. “The reality is that North Carolina families cannot afford these rising bills,” said Terryn Hall of Climate Power. 

A big reason why these prices are increasing is because Duke Energy is hoarding profits. Duke Energy takes 21.7% of your electric bill as pure profit – one of the highest profit margins in the country for a utilities company. That means for every $100 you pay on an electric bill, $21.70 is just Duke padding their pockets. 

Duke Energy has been able to pull this off because some of our leaders have been more interested in enriching themselves than serving our state. Think Chief Justice Paul Newby, whose wife holds substantial investments in Duke Energy. Newby’s GOP majority on the NC Supreme Court recently upheld a Duke Energy rate hike that consumer advocates say will cost North Carolinians an extra $129 million over three years. 

Or think of North Carolina Senate leader Phil Berger, whose campaign benefited from huge investments from Duke Energy. Berger was the primary sponsor of the law that changed the Utility Commission’s structure and membership shortly before they approved another Duke Energy rate hike. His son is also on the NC Supreme Court that upheld the rate hikes. 

Unfortunately, more Duke Energy supporters are waiting in the wings. Hurricane Helene Recovery Czar Michael Whatley, who is currently running for US Senate, has hundreds of thousands of dollars invested in Duke Energy. And Rep. Sarah Stevens, who is running for a seat on the NC Supreme Court this year, has repeatedly voted in support of policies backed by Duke Energy, including legislation that allowed the company to retain money that courts found had been collected through unlawful overcharges.

But for every leader ready to sell us out for a corporate handout, there is another leader who is ready to stand up and fight for us. 

Justice Anita Earls has stood up for ratepayers. In a blistering dissent earlier this year, Earls wrote that the Utilities Commission allowing Duke Energy to raise rates was “unlawful and arbitrary” and that “ratepayers across the state deserve more.” 

Gov. Stein has also fought against rising energy costs. Stein came out strongly against the rate hikes and even vetoed legislation that would raise electricity prices for North Carolinians – however, his veto was overridden by the Republican-led NC General Assembly.

And then there’s Attorney General Jeff Jackson, who recently rejected Duke Energy’s most recent rate hike settlement. His office even ran the numbers and found that the actual rate hike could be even higher than what Duke has said. “The details matter here, and Duke got it wrong under oath,” Jackson said. “A 6.8% increase was already too high for families, and Duke can’t justify an even bigger increase. We’re not signing this deal.”

We’ve seen some of our elected officials step up, but ultimately, it might have been the everyday people who spoke up against these rate hikes who have moved the needle the most. Submitting comments, providing public testimony, talking to friends and neighbors– it’s everyday North Carolinians who have built the momentum necessary to win this fight. 

We can’t give up now. Continue speaking out, continue pushing back, and continue to remind yourself that there’s a growing community of North Carolinians standing behind you.