News Summary
Duke Energy Carolinas has filed for a $150.5 million rate increase with the Public Service Commission of South Carolina. This request signifies a 7.7% increase in annual revenues, impacting around 680,000 customers. If approved, typical residential bills may rise by $10.38 monthly starting March 2026. The company aims to enhance reliability, affordability, and sustainability through significant investments in infrastructure upgrades. Stakeholders are now awaiting the commission’s decision, which will consider public responses and the economic implications for local communities.
Columbia, SC – Duke Energy Carolinas has officially requested a $150.5 million rate increase from the Public Service Commission of South Carolina (PSCSC), marking the company’s first public review of its current rates since 2024. This proposed increase translates to a 7.7% increase in annual revenues, affecting nearly 680,000 retail electric customers across the state.
If approved, the average monthly electric bill for typical residential customers using 1,000 kilowatt-hours per month would rise by $10.38, increasing the monthly cost from $136.82 to $147.19 starting March 1, 2026. Businesses would not be spared either, with commercial customers facing an average hike of 5.4% and industrial customers seeing around a 5.2% increase, though rates may vary within each class depending on specific service costs.
Duke Energy has emphasized its commitment to addressing its customers’ expectations around reliability, responsiveness, affordability, and sustainability. The energy provider has invested significant resources into upgrading its infrastructure, enhancing grid reliability, improving storm preparedness, and maintaining its generation fleet. Such improvements have previously shown positive results, such as during Hurricane Helene, where upgrades reduced the number of outages.
Smart, self-healing technology implemented by the company has played a crucial role in restoring power quickly, benefiting over 35,000 customers and saving more than 153,000 hours of total outage time. This reinforces Duke Energy’s strategy to provide high-quality service to its clients across various regions.
Tim Pearson, the South Carolina president of Duke Energy, has highlighted the serious nature of the rate increase request, underscoring the importance of being transparent with customers about the need for these changes. As the company focuses on system upgrades, officials aim to support economic growth throughout South Carolina, further justifying their financial needs to the regulatory body.
Duke Energy Carolinas serves a diverse range of counties, including Abbeville, Anderson, Cherokee, Chester, Fairfield, Greenville, Greenwood, Kershaw, Lancaster, Laurens, McCormick, Newberry, Oconee, Pickens, Saluda, Spartanburg, Union, and York. The proposed rate change would impact residents and businesses situated in these areas, providing them with critical energy services as the company works to upgrade its infrastructure.
As this request is now under review by the PSCSC, stakeholders are awaiting the commission’s decision concerning the rate increase. Any changes implemented will reflect Duke Energy’s approach to maintaining quality service while balancing the costs of sustaining and enhancing their operational capabilities. Public response will likely be a key factor in the commission’s deliberations as they consider the implications of such increases on local communities and the overall economy.
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Additional Resources
- Newberry Observer: Duke Energy Submits Proposal to Increase Rates
- Wikipedia: Duke Energy
- Duke Energy News: Grants to Support Senior Citizens
- Google Search: Duke Energy
- WYFF4: Duke Energy Carolinas Raise Rates
- Google Scholar: Duke Energy Rate Increase
- Fox Carolina: Power Restoration Timeline
- Encyclopedia Britannica: Duke Energy
- WBTV: Duke Energy Power Restoration Timeline
- Google News: Duke Energy Rate Increase
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