Duke Energy Corporation’s Duke Energy Progress has requested a public review of the company’s rates as it intends to lift prices. The company, serving 177,000 customers primarily in central and northeastern South Carolina, said an increase is justified due to increased work on system diversity and reliability.
In its request to South Carolina’s Public Service Commission, the company is seeking an overall revenue increase of $74.8 million, representing a 12.1 percent increase over current revenues. It said in a media release this is the first rate review it requested since 2022.
“We know families and businesses are juggling a lot and we do not take a request to increase rates lightly, but being upfront and timely with our request is the right thing to do and in the best interest of our customers”, Tim Pearson, Duke Energy’s South Carolina president, said.
If approved, the monthly electricity bills for typical residential customers using 1,000 kilowatt-hours per month would rise by $21.66 a month – from $144.85 per month to $166.51 – starting February 1, 2026. Commercial customers would see an average increase of 12.8 percent, while industrial customers would see an average increase of around 3.6 percent. The exact amount of increase per customer class may vary depending on how much additional revenue is needed to ensure the class covers the cost of serving them, the company said.
“This proposal reflects the investments we have made to strengthen the grid, improve storm readiness, maintain and enhance our generating fleet, and serve a growing customer base,” the company said.
It said that previous investments in grid resilience proved critical when Hurricane Helene made its way across the Carolinas.
“Smart, self-healing technology installed across the Duke Energy Progress service territory helped to automatically restore more than 10,000 customer outages and saved more than 28,000 hours of total outage time, showing the value of the self-healing programs”, the company said.
To contact the author, email andreson.n.paul@gmail.com
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