Duke Energy North Carolina Residential Customers To Witness 4.5% Decline In Costs

(RTTNews) - Duke Energy Progress, a subsidiary of Duke Energy Corp. (DUK), Monday announced that its residential customers in North Carolina will see a decline of 4.5 percent in costs due to an annual adjustment in the cost of fuel used to generate electricity.

Following this, a typical residential customer in North Carolina using 1,000 kilowatt-hours per month will witness a fall in costs from $161.97 to $154.63.

Moreover, commercial customers will benefit from an average decrease of about 6.3 percent, whereas industrial customers will see an average decrease of less than 0.1 percent, the company stated.

The customer rate change was approved by the North Carolina Utilities Commission.

Currently, Duke Energy's stock is trading at $115.39, down 1.41 percent on the New York Stock Exchange.