Duke Energy is a utility company that offers electricity services to homes and businesses across Ohio. The company also provides natural gas services to customers in the southwest corner of the state. In addition, the company provides power to residents in Florida, Indiana, Kentucky, and North Carolina.
The average monthly residential Duke Energy bill is $115. As of March 2023, the company has filed for a rate increase that would bump this bill to $129. The company expects to earn $1 billion less in profits next year than it did last year. This lower profit projection is a large factor behind the rate increase request.
During the first month of their new rates, residents may experience some initial heartburn. However, the one-time credit from the City will help soften the blow. Moreover, many residents will avoid this rate increase by participating in the City’s energy aggregation program. This option will save participants around 25% compared to taking the default supply rate from Duke Energy.
Aside from the City’s aggregation program, there are many certified suppliers that offer competitive pricing to duke energy customers. The City’s website has a list of these providers. Residents are encouraged to shop and compare prices from multiple suppliers before making a decision. Ultimately, it is important for consumers to remember that they are still responsible for the delivery and maintenance of their energy infrastructure from a local utility.
Residents should be aware of door-to-door salespeople and push telemarketers that are seeking to sign them up for a power supplier. PUCO regulations require these individuals to immediately identify themselves and their company. Additionally, PUCO rules require that these representatives wear an identification badge with their photo and name. If you ever feel pressured to sign up for a supplier, you can always call your local PUCO office and request a rescission period.