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Monthly bills will drop for Duke Energy Carolinas customers in South Carolina beginning in November for annual adjustment to fuel costs

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Duke Energy Carolinas announced a significant rate decrease for South Carolina customers starting November 1, 2024. Residential customers will see a 12.7% decrease in their monthly bills, with average bills dropping by $19.52 from $154.29 to $134.77 for 1,000 kWh usage. Commercial and industrial customers will experience reductions of 13.5% and 15.7% respectively. This decrease, primarily driven by lower natural gas costs, more than offsets the base rate increase implemented in August. The adjustment comes as part of the annual fuel cost-recovery filing reviewed by the Public Service Commission of South Carolina.

Duke Energy Carolinas ha annunciato una significativa riduzione delle tariffe per i clienti della Carolina del Sud a partire dal 1° novembre 2024. I clienti residenziali vedranno una riduzione del 12,7% nelle loro bollette mensili, con una diminuzione media di $19,52, passando da $154,29 a $134,77 per un consumo di 1.000 kWh. I clienti commerciali e industriali sperimenteranno riduzioni rispettivamente del 13,5% e del 15,7%. Questa diminuzione, principalmente sostenuta dalla discesa dei costi del gas naturale, compensa ampiamente l'aumento della tariffa base attuato in agosto. L'adeguamento fa parte della richiesta annuale di recupero dei costi del carburante esaminata dalla Commissione per i Servizi Pubblici della Carolina del Sud.

Duke Energy Carolinas anunció una disminución significativa de tarifas para los clientes de Carolina del Sur a partir del 1 de noviembre de 2024. Los clientes residenciales verán una disminución del 12.7% en sus facturas mensuales, con facturas promedio cayendo $19.52, de $154.29 a $134.77 por un uso de 1,000 kWh. Los clientes comerciales e industriales experimentarán reducciones del 13.5% y 15.7% respectivamente. Esta disminución, impulsada principalmente por la caída de los costos del gas natural, compensa con creces el aumento de la tarifa base implementado en agosto. El ajuste forma parte de la solicitud anual de recuperación de costos de combustible revisada por la Comisión de Servicios Públicos de Carolina del Sur.

Duke Energy Carolinas는 2024년 11월 1일부터 사우스 캐롤라이나 고객을 위한 요금 인하를 발표했습니다. 주택 고객은 월 청구서에서 12.7%의 인하를 경험하며, 평균 청구서는 1,000 kWh 사용 시 $154.29에서 $134.77로 $19.52 줄어듭니다. 상업 및 산업 고객은 각각 13.5% 및 15.7%의 감소를 경험하게 됩니다. 이 인하는 주로 천연 가스 비용의 하락에 의해 촉진되며, 8월에 시행된 기본 요금 인상을 충분히 상쇄합니다. 이 조정은 사우스 캐롤라이나 공공 서비스 위원회에 의해 검토된 연간 연료 비용 회수 신청의 일환으로 이루어집니다.

Duke Energy Carolinas a annoncé une baisse significative des tarifs pour les clients de Caroline du Sud à partir du 1er novembre 2024. Les clients résidentiels verront une baisse de 12,7% de leurs factures mensuelles, avec des factures moyennes passant de 154,29 $ à 134,77 $ pour une consommation de 1 000 kWh, soit une diminution de 19,52 $. Les clients commerciaux et industriels connaîtront des réductions respectivement de 13,5 % et 15,7 %. Cette baisse, principalement due à la diminution des coûts du gaz naturel, compense largement l'augmentation du tarif de base mise en œuvre en août. L'ajustement fait partie de la demande annuelle de recouvrement des coûts de combustible examinée par la Commission des services publics de Caroline du Sud.

Duke Energy Carolinas hat eine signifikante Senkung der Tarife für Kunden in South Carolina ab dem 1. November 2024 angekündigt. Privatkunden werden eine Senkung von 12,7% in ihren monatlichen Rechnungen sehen, wobei die durchschnittlichen Rechnungen von $154,29 auf $134,77 bei einem Verbrauch von 1.000 kWh um $19,52 sinken. Gewerbliche und industrielle Kunden werden Senkungen von 13,5% bzw. 15,7% erleben. Diese Senkung, die hauptsächlich durch sinkende Erdgaspreise vorangetrieben wird, kompensiert mehr als ausreichend die im August umgesetzte Erhöhung des Basistarifs. Die Anpassung ist Teil des jährlichen Antrags zur Kostendeckung von Energiekosten, der von der Public Service Commission von South Carolina geprüft wurde.

Positive
  • 12.7% decrease in residential customer bills ($19.52 reduction for 1,000 kWh usage)
  • 13.5% decrease for commercial customers
  • 15.7% decrease for industrial customers
  • Reduction in natural gas costs contributing to lower rates
Negative
  • None.

Insights

This rate decrease represents a significant positive development for Duke Energy's customer relations and regulatory standing. The 12.7% reduction in residential rates, translating to $19.52 monthly savings for average households, demonstrates effective fuel cost management and benefits from lower natural gas prices. The larger decreases for commercial (13.5%) and industrial customers (15.7%) could help maintain competitive advantages in the service region.

The timing is particularly strategic, as it more than offsets the recent base rate increase from August, potentially minimizing customer complaints and regulatory scrutiny. This adjustment affects approximately 660,000 customers in South Carolina, suggesting a meaningful impact on Duke's revenue stream, though the true-up mechanism ensures the company's fuel costs are ultimately recovered. The decrease reflects both lower natural gas costs and improved cost management, indicating positive operational efficiency.

  • Home energy bills will decrease 12.7%
  • Decrease more than offsets base rate increase that took effect in August

GREENVILLE, S.C., Oct. 31, 2024 /PRNewswire/ -- Duke Energy Carolinas customers in South Carolina will see their electric rates fall starting Nov. 1 as part of an annual adjustment for the cost of fuel used to generate electricity at its power plants. As approved by the Public Service Commission of South Carolina (PSCSC), today's average monthly residential bill will decrease by 12.7%.

The total monthly impact of these rate changes for a residential customer using 1,000 kilowatt-hours (kWh) per month is a decrease of $19.52, from $154.29 to $134.77.

As approved by the PSCSC, rates for commercial customers will decrease 13.5% and rates for industrial customers will decrease 15.7%. The specific impact to individual customers will vary according to many factors including electric usage and customer profile dynamics.

The decrease more than offsets the previously announced base rate increase approved by the PSCSC that took effect in August.

Duke Energy Carolinas serves about 660,000 households and businesses primarily in the Upstate of South Carolina, including Greenville, Spartanburg and Anderson counties.

Duke Energy Carolinas makes a fuel cost-recovery filing annually in South Carolina. The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true up of the prior year's projection compared to actual costs incurred. The PSCSC reviews fuel costs and adjusts the fuel component of customer rates accordingly. Each year, this true-up proceeding is intended to resolve the difference between projected fuel costs and what is actually billed to the customer.

The decrease for customer bills in this year's request is primarily driven by the decreased cost of natural gas year over year, plus a reduced true-up component since the previous fuel cost-recovery filing.

Duke Energy Carolinas works to actively manage fuel contracts to keep costs as low as possible for customers. Bills reflect actual fuel costs – customers pay what the company pays.

Helping customers save

Customers struggling to pay their energy bills might qualify for assistance from various government and nonprofit programs for utility bills and other household expenses, or from the Share the Light Fund, a Duke Energy program that provides energy assistance. Duke Energy also offers programs and resources to help customers, as well as flexible payment arrangements to help customers experiencing uncertainty keep their accounts in good standing.

To help all customers take control of their energy use, Duke Energy offers energy-saving tips and innovative efficiency programs for every budget. For example, the Home Energy House Call is a free in-home energy assessment that provides customers more information about how they use energy and strategies to save money on their monthly bill. To learn more about these programs, visit duke-energy.com/savings.

Duke Energy Carolinas
Duke Energy Carolinas, a subsidiary of Duke Energy, owns 20,700 megawatts of energy capacity, supplying electricity to 2.9 million residential, commercial and industrial customers across a 24,000-square-mile service area in North Carolina and South Carolina.

Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

Duke Energy is executing an ambitious clean energy transition, keeping reliability, affordability and accessibility at the forefront as the company works toward net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and nuclear.

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on TwitterLinkedInInstagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.

24-Hour media line: 800.559.3853

 

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SOURCE Duke Energy

FAQ

How much will Duke Energy (DUK) residential customers in South Carolina save starting November 2024?

Duke Energy residential customers in South Carolina will save $19.52 on their monthly bill (12.7% decrease) for 1,000 kWh usage, reducing bills from $154.29 to $134.77.

What is causing the rate decrease for Duke Energy (DUK) customers in South Carolina?

The rate decrease is primarily driven by the decreased cost of natural gas year over year, plus a reduced true-up component from the previous fuel cost-recovery filing.

How many customers will be affected by Duke Energy's (DUK) rate decrease in South Carolina?

The rate decrease will affect approximately 660,000 households and businesses primarily in the Upstate of South Carolina, including Greenville, Spartanburg and Anderson counties.

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