Duke Energy Carolinas files for rate adjustment to recover fuel costs in South Carolina
Duke Energy Carolinas filed plans with the Public Service Commission of South Carolina (PSCSC) to recover fuel costs and adjust rates for the fall.
If approved, typical residential customers using 1,000 kilowatt-hours (kWh) per month would see their bills increase from the current $119.32 to $135.07, an increase of 13.2 percent. Commercial customers would see an average increase in their bills of about 18.3 percent, while industrial customers would receive an average increase of about 24.4 percent.
The increases reflect the need to recover costs associated with the fuel used to generate electricity at its power plants. The company makes no profit from the fuel component of rates. This proceeding is intended to resolve the difference between projected fuel costs and what is billed to the customer. Some years, the company reimburses customers and reduces the charge on their energy bills; in other years, customers reimburse the company. If approved by the PSCSC, the new fuel rates would go into effect on Oct. 1.
The increases result from rising energy demand, compounded by fuel commodity prices climbing drastically in 2021 due to tight supplies. The sharp increase in commodity prices contributed to a $145 million under-recovery across the prior year.
Duke Energy Carolinas serves about 640,000 customers primarily in the Upstate region of South Carolina, including Greenville, Spartanburg, and Anderson counties.
Customers struggling to pay their energy bills may qualify for assistance from various government and nonprofit programs. Customers can dial 211, text “electric” to 211211, or visit sc211.org online for more details.
Duke Energy also offers programs and resources to help customers experiencing uncertainty, to include flexible payment options and the Share the Light Fund, a Duke Energy program that provides energy assistance.
One of America’s largest energy holding companies, Duke Energy’s electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio, and Kentucky. The company employs 28,000 people.
