Duke Energy Proposes Rate Increase to Enhance Infrastructure and Reliability
- Duke Energy is reviewing electricity rates to support $150.5 million in infrastructure improvements for reliability and storm resilience.
- Residential bills may increase by $10.38, while commercial and industrial customers will see varying percentage increases based on service costs.
- Recent grid enhancements helped Duke Energy minimize outages during Hurricane Helene, demonstrating its commitment to reliability and customer satisfaction.
Duke Energy’s Commitment to Infrastructure and Reliability Enhancement
Duke Energy Carolinas, serving nearly 680,000 customers in South Carolina's Upstate region and along the I-77 corridor, is initiating a public review of its current electricity rates. This request marks the company’s first rate review since early 2024 and underscores its ongoing commitment to infrastructure improvements. With significant investments aimed at strengthening the power grid, enhancing reliability, and increasing storm resilience, Duke Energy is poised to address customer needs while maintaining operational excellence. The company seeks an overall annual revenue increase of $150.5 million, which represents a 7.7% rise over current revenues, to support these initiatives.
The proposed rate adjustment will affect various customer classes differently. For residential customers using 1,000 kilowatt-hours per month, bills are projected to increase by $10.38, from $136.82 to $147.19, effective March 1, 2026. Commercial and industrial customers are also expected to see increases of 5.4% and 5.2%, respectively, with variations based on the specific costs associated with serving each group. This strategic rate proposal reflects Duke Energy's disciplined approach to balancing customer expectations with the need for continued investment in infrastructure.
The necessity for these investments is underscored by the recent challenges posed by Hurricane Helene, during which the company’s grid enhancements and smart technology significantly minimized outages. Duke Energy successfully restored over 35,000 outages and saved more than 153,000 hours of downtime, highlighting the effectiveness of its infrastructure improvements. The company emphasizes its dedication to reliability, affordability, and supporting South Carolina’s economic growth through these essential upgrades.
In addition to the proposed rate adjustments, Duke Energy continues to focus on operational excellence and customer satisfaction. The company’s proactive measures aim to ensure a robust energy grid that meets the demands of its diverse customer base. By prioritizing investments in technology and infrastructure, Duke Energy is not only enhancing service quality but also laying the groundwork for future energy resilience in the region.
As Duke Energy Carolinas moves forward with its rate review, it remains committed to engaging with regulators and customers alike. The company aims to demonstrate the value of its recent investments and the critical role these enhancements play in ensuring reliable and affordable energy for its customers.
