Duke Energy Carolinas has submitted a proposal to South Carolina regulators for a public review of its current rates. The company, which serves nearly 680,000 customers in the Upstate region and along the I-77 corridor south of Charlotte, last requested a rate review in early 2024. Since then, Duke Energy Carolinas has invested in grid upgrades to enhance reliability and storm resilience.
The application before the Public Service Commission of South Carolina seeks an overall annual revenue increase of $150.5 million, equating to a 7.7% rise over current revenues. If approved, residential customers using 1,000 kilowatt-hours per month would see their monthly bills increase by $10.38 starting March 1, 2026. Commercial and industrial customers would experience average increases of 5.4% and 5.2%, respectively.
Duke Energy emphasizes that these investments are essential for meeting customer expectations regarding reliability and supporting economic growth in South Carolina. “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,” stated Tim Pearson, Duke Energy’s South Carolina president.
The company’s recent grid improvements have already demonstrated effectiveness during storms like Hurricane Helene by reducing outage times through smart technology.
Duke Energy Carolinas operates as a subsidiary of Duke Energy, which is headquartered in Charlotte, N.C., serving millions across several states with significant energy capacity.
More details on the proposal can be found on Duke Energy’s website.
