Starting November 1, Duke Energy Carolinas customers in South Carolina will see lower electric rates due to the annual adjustment for fuel costs approved by the Public Service Commission of South Carolina (PSCSC). Residential customers using 1,000 kilowatt-hours (kWh) per month will experience a 12.7% rate reduction, resulting in a monthly bill decrease from $154.29 to $134.77, saving $19.52.
Commercial customers will see a 13.5% rate decrease, while industrial customers will benefit from a 15.7% drop. The actual impact will depend on each customer’s usage and profile. This adjustment more than offsets the base rate increase implemented in August.
Duke Energy Carolinas, which serves 660,000 customers in areas like Greenville, Spartanburg, and Anderson counties, files for fuel cost recovery each year. The fuel rate is determined based on projected costs and a true-up to reconcile past projections with actual expenses. This year’s rate decrease is primarily due to lower natural gas prices and a smaller true-up component.
Duke Energy strives to manage fuel costs efficiently and pass the savings on to customers. For those needing financial assistance, support programs are available, including the Share the Light Fund and various energy-saving initiatives. Customers can also take advantage of free in-home energy assessments and resources to reduce energy usage.
Duke Energy Carolinas, a subsidiary of Duke Energy, operates 20,700 megawatts of energy capacity, serving customers across a vast area of North and South Carolina. Duke Energy is one of the largest energy companies in the U.S., committed to a clean energy transition with ambitious goals for reducing methane and carbon emissions.
