Electricity rates are rising at an unprecedented speed, outpacing the cost of living and wage growth. For many in North Carolina, it forces families to make the tough decision between putting food on the table and paying utility bills. In fact, during the COVID pandemic, it was estimated that nearly 16% of all North Carolina Duke customers were significantly behind on their bills. Additionally, there are more than 400,000 households across North and South Carolina who live at 50% of the federal poverty line and face an energy burden of at least 30% (30% of income spent on utility bills). Recent trends are likely to intensify these affordability concerns in the state, lending the need to establish near-term energy policy solutions.

These challenges don’t just impact residential customers. For many commercial customers, utilities account for some of the largest percentages of operating costs. Therefore, energy affordability and the availability of energy to power operations often rank amongst the top considerations when selecting a new site. Providing access to affordable, reliable energy is imperative to ensuring North Carolina remains the nation’s ‘Top State for Business.’