Duke Energy Carolinas Rate Hike Reduced Following Regulatory Review
COLUMBIA, S.C. – South carolina electricity customers will see a smaller rate increase than initially proposed by Duke Energy carolinas,following a decision by the Public Service Commission (PSC). The revised plan, approved after a thorough review, represents a significant shift from the company’s original request and offers some relief amid already soaring costs of living in the state.
The initial proposal, filed by Duke Energy, sought a considerable rate hike to cover infrastructure investments. However,the PSC ultimately approved a more moderate increase,splitting it into two phases to lessen the immediate financial burden on households. This decision arrives as South Carolina faces some of the nation’s highest increases in the cost of living, including utilities, groceries, and housing.The impact of rising energy costs will disproportionately effect lower-income families and those on fixed incomes.
Duke Energy Carolinas’ first rate increase took effect in August 2024, marking the company’s first adjustment in five years. The remaining portion of the approved increase is scheduled to go into effect on august 1, 2026. While the final amount represents a reduction from the original filing, electric bills in South Carolina are still projected to climb more than in almost every other state over the next decade.
This anticipated surge is partially attributed to a federal law that eliminated clean energy incentives previously expected to help mitigate rising electric costs. Despite the localized impact, increasing energy costs are not unique to South Carolina, Duke Energy, or even the Upstate region.The situation underscores a national trend of escalating utility expenses.
