Raleigh, NC - The North Carolina Association of Educators (NCAE) is continuing its call for corporations like Duke Energy to pay their fair share to do right by the children, working-class families, and communities across North Carolina.
This week, Duke Energy reported more than $1.5 billion in profits for the first quarter of 2026. If North Carolina taxed the company and all corporations at a modest 5 percent rate, the state could generate billions of dollars in additional revenue to support essential services like public education and help provide raises for public-sector workers, including teachers, as well as provide the dire resources needed to support the 1.5 million children that attend public schools.
These profits come as customer bills have risen by nearly 22 percent since 2020, and as Duke Energy seeks an additional rate increase of nearly 20 percent over the next two years. The company’s billion-dollar profits are being generated at the expense of working-class families, who continue to see their electric bills climb year after year.
“Congrats to Duke Energy on their amazing profits this quarter," said NCAE President Tamika Walker Kelly. "Under North Carolina's current tax structure, Duke Energy will pay a lower effective tax rate on their gains than the average classroom teacher in this state. Let that sink in. While educators are buying school supplies out of their own pockets and our students are sitting in crumbling classrooms, Duke Energy is laughing all the way to the bank.
The company will hold its annual shareholders meeting today. Duke Energy can show its commitment to North Carolina’s future, by supporting S943: The Kids Over Corporations Act. The bill will stop the planned corporate tax cuts, restore a stable 5% rate, and generate billions in revenue for our public schools. We know they can afford it.”
