Duke Energy backs down on electric rate hike request in SC, NC

Duke Energy has backed off from its initial 17-percent rate hike requested in the Palmetto State earlier this year.

Late Wednesday, Duke announced it was dropping its electric rate hike request to just under six percent. In North Carolina, Duke had asked for a 15 percent rate hike, but that too was stripped down to just over seven percent.

Over the past few months, Duke has received a great deal of criticism over the rate hike requests — saying the added revenue is needed to strengthen the company’s electric grid across the Carolinas.