Governor Josh Stein responded on Apr. 15 to Duke Energy’s announcement that it will seek an additional $800 million in fuel costs from the Utilities Commission. This request comes on top of a proposed 15% rate increase for North Carolina electricity customers.
The issue is significant because rising utility bills could impact families across the state. Governor Stein said, “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 despite Governor Stein’s veto. Researchers from North Carolina State University and Duke University independently found that this legislation could raise costs for state ratepayers by $23 billion over coming years due to higher fuel expenses.
The Office of the Governor of North Carolina serves all residents and executes state laws as chief executive while leading the Council of State, according to the official website (https://governor.nc.gov/news/press-releases). The governor also directs policy through budget management and granting pardons and serves as commander in chief of the North Carolina National Guard with authority over executive appointments according to its official website.
Stein has served as the state’s 76th governor according to information available on its official website (https://governor.nc.gov/news/press-releases).
Looking ahead, observers will watch how the Utilities Commission responds and whether further measures are taken by state officials or lawmakers regarding utility rates.
