HomeSouth CarolinaRelief for South Carolina customers: Duke Energy Progress seeks rate decrease

Relief for South Carolina customers: Duke Energy Progress seeks rate decrease

Columbia, South Carolina – Duke Energy Progress has asked the Public Service Commission of South Carolina (PSCSC) to lower customer bills, linking this move to fuel costs used in generating power for homes and businesses across the state. Every year, the company submits a fuel cost-recovery filing in South Carolina. This fuel rate is calculated based on projected fuel costs needed for electric services, plus a true-up that reconciles last year’s forecasted costs against actual expenses.

The proposed decrease this year is mainly due to a significant drop in natural gas prices and a smaller true-up adjustment compared to the previous filing. The true-up process matches the forecasted fuel expenses to actual customer billing.

If given the green light, starting August 1, residential bills would decrease by 4.1%, translating to a $6.23 monthly reduction for a customer using 1,000 kWh, from $151.74 down to $145.51.

Commercial customers would see around a 4.9% drop in their rates, while industrial customers would see a reduction of about 4.4%. However, the precise impact will differ for each customer based on factors like usage and customer profiles.

Read also: Silfab Solar’s $150 million investment sparks debate in Fort Mill community

Duke Energy Progress supplies power to roughly 175,000 homes and businesses in northeastern South Carolina, serving Florence, Sumter, and Darlington counties.

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