Governor Stein Reacts to Duke Energy Efforts to Charge Ratepayers Additional $800 Million
Summary
Governor Roy Cooper (North Carolina) issued a statement responding to Duke Energy's announcement that it intends to seek an additional $800 million in fuel costs from the North Carolina Utilities Commission. The Governor stated he vetoed Senate Bill 266 because it would expose ratepayers to volatile fuel markets and shift electricity costs from large industrial users to regular consumers. Independent studies from NC State University and Duke University found that Senate Bill 266 would increase costs to North Carolina ratepayers by $23 billion over coming years.
What changed
Duke Energy announced plans to seek an additional $800 million in fuel costs from the North Carolina Utilities Commission, adding to an existing proposed 15% rate hike. Governor Stein issued a statement urging the Utilities Commission to protect ratepayers, stating he vetoed Senate Bill 266 for exposing consumers to volatile fuel markets and shifting costs from industrial users to regular consumers. Studies from NC State University and Duke University estimated the previously enacted Senate Bill 266 would increase costs to ratepayers by $23 billion.\n\nAffected parties include North Carolina utility ratepayers who may face higher electricity costs, Duke Energy as the regulated utility, and the North Carolina Utilities Commission as the regulatory body that will review the fuel cost request. The Governor's statement is advisory in nature and does not create binding compliance obligations. The Utilities Commission retains independent authority over rate decisions.
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Apr 16, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
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Raleigh Apr 15, 2026 Duke Energy has announced its intent to seek an additional $800 million in fuel costs from the Utilities Commission. Governor Stein issued the following statement:
“On top of a proposed 15% rate hike, Duke Energy is now asking North Carolinians to foot the bill for an additional $800 million in increased fuel costs. I vetoed Senate Bill 266 for exactly this reason: because it would further expose North Carolina ratepayers to volatile fuel markets and shift the cost of electricity from large industrial users onto the backs of regular people, making your utility bills more expensive. Republican legislators knew this too – but still left North Carolinians holding the bag. The Utilities Commission should step in to secure an affordable energy future for North Carolinians. We must do everything we can to make life more affordable for families, not more expensive."
Last year, Senate Bill 266 became law over Governor Stein’s veto. Researchers from North Carolina State University and Duke University independently found that the bill would increase costs to North Carolina ratepayers by $23 billion in the coming years due to increased fuel costs. Click here to read Governor Stein’s veto statement.
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