2013 South Carolina rate case
Rate Case Update
On July 23, 2013, Duke Energy Carolinas finalized a rate case settlement agreement with the South Carolina Office of Regulatory Staff. View the news release for more information.
- An average rate increase of 5.53 percent in the first year
- Rates will increase by an additional 2.63 percent in the second year, for a total average of 8.16 percent
- Return on equity of 10.2 percent
- One-time $3.5 million shareholder contribution to assist low-income customers, public education initiatives and senior outreach, as well as manufacturing competitiveness grants, economic development and/or education/workforce training programs
- Company agrees not to seek new base rates until 2015 or beyond
Duke Energy Carolinas is committed to providing affordable, reliable and increasingly clean electricity to our customers. Over the past six years, we have invested billions of dollars to construct new advanced-technology power plants.
The new power plants are now operating and serving our customers, so it’s time for the company to begin collecting the money it spent to construct them. On March 18, 2013, we filed a general rate case with the Public Service Commission of South Carolina (PSCSC). More than half of the request is driven by capital investments that Duke Energy Carolinas has made in the electric system that serves 540,000 households and businesses in South Carolina.
The rate request also seeks to cover improvements to the vegetation management program that will enhance overall reliability and for federally mandated, industry-wide nuclear safety upgrades and cyber security enhancements.
The impact of these new costs, as well as the company's existing costs, is magnified because these costs have been spread among lower sales volumes experienced since the last rate case. Learn more how rates are set at Electric Rates 101.
Investing in our power plants and systems
We have replaced older, less efficient facilities and upgraded others to meet increasingly strict environmental and nuclear security requirements. The result is a safer, cleaner and more efficient power system for our customers. Learn more about our advanced technology.
Working to ensure continued reliability
Investing in the systems that deliver electricity to homes and businesses is an important way we ensure reliability for today and tomorrow. The work we do every day is why we’re able to maintain a reliability rating of 99.97 percent, meaning that customers are "on" 99.97 percent of the time. On average, our customers experience one outage per year. Learn more about our commitment to reliability.
Working to help our customers
Duke Energy offers energy-saving programs to help customers cut monthly power costs and assistance for low-income customers. Learn more about saving energy and saving money.
Electricity remains a good value
For most families in South Carolina, the daily cost of powering their homes is somewhere between the price of a gallon of gas and a premium cup of coffee. Learn more about the value of electricity.
The graph below shows the average increase for each customer class. You can also learn more about the South Carolina rate case here.
|Customer type||Proposed increase|
*This table shows the average impact of the proposed changes for each customer class. The specific increase or decrease to individual customers will vary depending on the rates they pay and other factors.