Duke Energy Carolinas proposes 10 percent rate hike to enhance service
As Duke Energy Carolinas invests in modernization and transitions to cleaner electricity generation, it has requested a 10 percent hike in rates for its 591,000 customers to help fund it.
This will amount to a revenue increase of around $168 million for the utility, supposing the Public Service Commission of South Carolina approves the request. Individual customers would see an increase of around 12.1 percent for residential bills and an 8.3 percent increase for commercial and industrial bills. For the average residential customer using 1,000 kilowatt hours of electricity, that would mean a $15.57 increase monthly — nearly $200 spread out over the year.
“The electric power grid is the backbone of South Carolina’s digital economy – not just today, but for decades to come,” Kodwo Ghartey-Tagoe, Duke Energy’s South Carolina president, said. “Customers want safe, reliable and increasingly clean electricity. They also want more options and control over how they use energy in their everyday lives. We’re working hard to build a smart, secure and flexible electric infrastructure to better serve our customers and keep South Carolina competitive now and in the years ahead.”
Duke Energy is continuing to work towards delivery of cleaner energy with its retirement of the system’s coal plants — none remain operational in South Carolina. The company stated that nearly half their electricity generated last year came from carbon-free assets. They have also moved to extend the life of their nuclear energy facilities.
A public review process will be held, including opportunities for public comment, for the examination of the rate changes. Duke Energy Carolinas hopes that, if approved, the rate hikes would go into effect as of June 1, 2019.
