Citing the higher prices it must pay for natural gas, Duke Energy will raise the fuel-adjustment-charge portion of monthly electric bills.
Beginning in March, Duke Energy will pass along to customers the increased prices of natural gas used to generate electricity. The utility relies on natural gas to produce 81 percent of the electric power it produces and sells to customers in Florida and other states.
“SInce January 2021, natural gas prices have increased almost 45% and remain volatile due to a number of unique events that drove up prices and caused supply uncertainty. This is impacting not only utility companies but also a variety of other industries that rely on natural gas, as well,” a statement from Duke Energy reads.
The higher fuel-adjustment charge will add approximately $6.62 to the average monthly household bill, according to the company. The average bill is based on a usage of 1,000 kilowatt-hours per month.
Duke Energy also notes in the statement “does not earn any profit from fluctuating fuel costs.”