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Duke Eergy Corp. has reached a deal with the N.C. Utilities Commission to accept less than half of the rate increase it sought in February.

AP file photo

Duke Eergy Corp. has reached a deal with the N.C. Utilities Commission to accept less than half of the rate increase it sought in February.

Duke Energy rate hike to average 5 percent

The Associated Press

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RALEIGH — Duke Energy Corp. is releasing more details about its deal with North Carolina’s official consumer advocate to raise electricity rates for customers in the state’s central and western regions.

Duke Energy said Monday its settlement with the North Carolina Utilities Commission’s Public Staff would raise rates for customers of its Duke Energy Carolinas subsidiary by about 5 percent. The company would get an extra $205 million in the first two years, and $235 million a year after that.

The public staff is responsible for representing consumers and said it would support the increase, which is half what the company requested in February.

The rates will be discussed at several public hearings this month, beginning with Wednesday in Winston-Salem. They would take effect in September if the state utilities commission approves.