#United States #Duke Energy #Hurricane Helene #South Carolina

Duke Energy Unveils New Billing Changes in South Carolina

Duke Energy has announced significant changes to its customer billing structure in South Carolina, set to take effect in January 2026. This decision follows the devastating effects of Hurricane Helene, which severely impacted the electrical infrastructure in the region. The changes aim to not only recover from the damage caused by the hurricane but also to enhance the overall reliability of the electrical grid, keeping pace with South Carolina's increasing energy demands.

As part of the company's commitment to delivering consistent and reliable energy, Duke Energy aims to maintain transparency regarding the costs associated with these enhancements. Tim Pearson, the president of Duke Energy South Carolina, stated, "We're focused on investing in what matters to our customers, ensuring efficiency while keeping costs in check."

Key Features of the New Proposal

The South Carolina Public Service Commission (PSCSC) has approved Duke Energy's proposals, which cover both Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP) utilities. Major components of this plan include:

• - Securitization of Hurricane Costs: This innovative approach involves selling low-interest, long-term bonds to finance recovery from the hurricane's unexpected costs. By implementing this measure, Duke Energy aims to save its customers over $140 million on bills related to Hurricane Helene.

• - Incremental Bill Adjustments: Starting in January, a typical residential DEC customer will see an increase of 3.2% on their monthly bill, which translates to an additional $4.58 for those consuming 1,000 kilowatt-hours (kWh) of electricity. Interestingly, this charge is designed to save customers around 20% compared to traditional recovery methods.

• - Enhanced Grid Reliability: Investments in grid upgrades have already improved service for many customers. For instance, automated tools designed to restore power have tripled the number of South Carolinians benefiting from faster service recovery. Over 70% of customers are now linked to these self-healing technologies.

Commitment to Customer Value

Aside from the immediate financial adjustments, Duke Energy is dedicated to ensuring that its customers continue to receive value through various initiatives.

Pearson emphasized, "Achieving the right balance of reliability and cost is central to our mission. We leverage efficiencies gained through our nuclear units, expected to generate substantial tax credits in the upcoming years that will ultimately benefit customers."

The new tax credits, which will begin to apply in 2026, are a pivotal aspect of Duke Energy’s strategy to mitigate any additional cost impacts stemming from recent infrastructure investments.

Utility Specific Changes

• - DEP’s Adjustments Starting February: Customers using 1,000 kWh per month will see an increase of $11.20, raising their monthly bill from $153.82 to $165.02.
• - DEC’s Adjustments Starting March: Customers who consume the same amount will notice a modest rise of $0.84, bringing their bill from $148.02 to $148.86, which includes the new securitization charge.

Duke Energy serves a substantial portion of South Carolina, with DEC covering around 680,000 residential and commercial users, while DEP caters to about 177,000 customers predominantly in the northeastern area.

Addressing Consumer Concerns

Understanding the financial implications for its customers, Duke Energy is also putting forth initiatives to help individuals manage their energy expenditures. These include incentivized energy efficiency programs, which have proven effective in yielding annual savings significantly surpassing the national average.

Pearson remarked, "Our goal is to empower customers with the tools they need to control their energy usage effectively." Programs aimed at increasing energy efficiency will see boosted incentives to further assist households in cutting costs.

Conclusion

Duke Energy’s proactive measures following Hurricane Helene reflect its ongoing commitment to improving service reliability while managing costs effectively. The combination of innovative financial strategies and a focus on upgrading infrastructure positions Duke Energy to better serve its customers in South Carolina for years to come.

For more information on energy-saving programs and details about upcoming billing changes, customers can visit Duke Energy’s website.