Beginning in January, Duke Energy will introduce changes to customer bills in South Carolina following approval from the Public Service Commission of South Carolina (PSCSC). These changes are intended to recover costs from Hurricane Helene, strengthen the electric grid, upgrade power plants, and accommodate a growing customer base.
Tim Pearson, Duke Energy’s South Carolina president, stated: “Duke Energy is committed to meeting the expectations our customers have around reliability, responsiveness and value – striking the right balance that delivers these at the lowest possible cost for customers. That means investing in what matters, delivering results efficiently, and remaining transparent about what customers are paying for and why.”
The PSCSC approved updates affecting customers of Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP), the company’s two utilities operating in the state.
To address expenses from Hurricane Helene, Duke Energy will use securitization—a method involving low-interest, long-term bonds—to generate savings while recovering large storm-related costs. The PSCSC’s approval of this plan is expected to save DEC customers over $140 million on hurricane recovery expenses.
Starting in January, typical residential DEC customers using 1,000 kilowatt-hours per month will see a new storm charge resulting in a 3.2% increase—about $4.58 more per month. This approach provides approximately 20% savings compared to traditional cost recovery methods over the recovery period. Pearson commented: “We appreciate the legislature providing tools like securitization to address extreme storm costs as we continue to pursue ways to reduce these impacts on customer bills.”
Duke Energy has invested in grid upgrades and plant maintenance aimed at improving reliability and resilience against storms. Over the past two years, the number of South Carolina customers served by self-healing technology has nearly tripled; now more than 70% benefit from automated power restoration systems. Pearson noted: “Meeting the needs of our customers means prioritizing investments that enhance the grid while also minimizing the cost impact for customers. For example, Duke Energy’s nuclear units are expected to generate hundreds of millions of dollars of annual tax credits in the coming years – savings that will be passed to our customers beginning in 2026.”
Comprehensive agreements recently approved by PSCSC involve applying these tax credits directly to bills and include shareholder-funded contributions for residential customers. These measures aim to lessen bill increases due to infrastructure investments over the next two years.
For DEP residential customers using 1,000 kWh per month, monthly electric bills will rise by about $11.20 starting February 1—from $153.82 to $165.02. For DEC residential customers with similar usage levels, monthly bills will increase by approximately $0.84 starting March 1—from $148.02 to $148.86 (including the new securitization charge).
DEC serves roughly 680,000 households and businesses mainly in Upstate and north central South Carolina—including Greenville, Anderson and York counties—while DEP serves about 177,000 customers across regions such as Sumter, Florence and Darlington counties in northeastern South Carolina. If regulators approve a proposed combination of DEC and DEP in 2026, it could result in over $1 billion in future savings for Carolinas’ customers.
Pearson emphasized support for customer efforts to manage energy usage: “Customers expect us to manage our costs, but they also want options to manage their own energy usage and give them tools to impact their own bills,” he said. “That’s why we’re helping customers lower their energy use – and lower their bills – through programs that make a measurable difference.”
Duke Energy reports that its energy efficiency programs across North Carolina and South Carolina deliver annual savings significantly above national averages; recent enhancements have increased incentives available for South Carolina residents.
More information on energy-saving programs can be found at duke-energy.com/SeasonalSavings.
Duke Energy Carolinas owns 20,800 megawatts of capacity serving 2.9 million residential, commercial and industrial users across North Carolina and South Carolina; Duke Energy Progress owns 13,800 megawatts serving 1.8 million users across both states.
Duke Energy (NYSE: DUK), based in Charlotte, N.C., is among America’s largest energy holding companies with electric utilities serving about 8.6 million people across six states.
For further details visit duke-energy.com or consult official social media channels.
