#United States #Duke Energy #Energy Infrastructure #South Carolina #Greenville

Duke Energy Carolinas Proposes a Rate Increase

Duke Energy Carolinas recently requested South Carolina regulators to conduct a public review of the company's existing electricity rates. This request occurs following their last review in early 2024, amidst a time of significant investment from the company aimed at improving infrastructure and service reliability for nearly 680,000 customers in the region.

Reasons for Proposal

The primary goal of this proposed rate adjustment is to enhance the energy future for its customers across various counties, including Abbeville, Anderson, and Spartanburg. The utility has made notable investments to strengthen the electrical grid, improve storm resilience, and maintain its generation fleet. These developments are crucial, as they tie directly into the expectation of modern utilities to provide reliable and safe energy.

Financial Aspects

Duke Energy’s application to the Public Service Commission of South Carolina (PSCSC) requests an overall annual revenue increase of $150.5 million, equating to a 7.7% rise over their current income. For regular residential customers using approximately 1,000 kilowatt-hours per month, this would result in an increase of around $10.38 per month, raising their bills from $136.82 to $147.19 which would take effect on March 1, 2026. Business customers are also expected to see increases, with commercial and industrial clients facing average hikes of 5.4% and 5.2% respectively.

Commitment to Reliability

Duke Energy has committed itself to meeting its customers' expectations concerning reliability and affordability, which is critical for the continued growth of South Carolina's economy. The company indicates that these adjustments are in line with their extensive initiatives focused on operational excellence and fiscal discipline when seeking rate changes.

The company’s grid enhancements have already shown their worth during adverse weather conditions such as during Hurricane Helene where significant improvements helped mitigate power outages throughout the storm's duration. Advanced technology included smart, self-healing networks that not only restored power to over 35,000 customers swiftly but also saved an impressive 153,000 hours of total outage time.

Duke Energy’s Vision

As stated by Tim Pearson, President of Duke Energy's South Carolina operations, this request is made with sincere consideration, understanding the challenges families and businesses encounter. The emphasis is on transparent communication regarding their efforts to maintain infrastructure while continuing to offer value to customers.

Duke Energy Carolinas owns an extensive energy capacity and services a broad customer base, from residential to industrial, across a vast geographical area. In line with their growth strategies, the company continues its ambitious energy transition plans aiming to create a smarter energy future that encompasses cleaner energy sources such as natural gas, nuclear, and renewables.

For more information on this rate proposal and available assistance programs, customers may visit Duke Energy’s official website for further details.

Conclusion

In conclusion, Duke Energy Carolinas’ request for a rate increase represents necessary adjustments to support its ongoing investments in infrastructure and service enhancements while addressing customer needs. As they navigate through the evolving energy landscape, Duke Energy remains committed to ensuring that South Carolina homes and businesses have the reliable power they need to thrive.