Duke Energy Carolinas SC Rate Case

Duke Energy Carolinas is committed to meeting the expectations our customers have around reliability, responsiveness, affordability and value. This proposal reflects the investments we have made to strengthen the grid, improve storm readiness, maintain and enhance our generating fleet, and serve a growing customer base. It also reflects how we are doing that work: with discipline, with a focus on operational excellence, and with a thoughtful approach to how and when we seek rate adjustments.

At the end of the day, our job is to keep the lights on so that our customers can go about their lives without worrying about whether the power will be there, while also doing our part to support South Carolina’s continued growth. That means investing in what matters, delivering results efficiently, and remaining transparent about what customers are paying for and why.

Why Now?

There is never a good time to propose a rate increase. We know families and businesses are juggling a lot, and we do not take a request to increase rates lightly. But being upfront and timely with our request is the right thing to do. 

The last request to increase base rates for Duke Energy Carolinas customers was in early 2024. Since then, we have made investments in the things our nearly 680,000 retail electric customers expect from us: upgrades to strengthen the grid, improve reliability and storm resilience, and maintain and upgrade our generation fleet.

These investments are already in place and delivering benefits to South Carolina, from faster restoration times to improved reliability and operational efficiency. At the same time, we have worked hard to hold the line on day-to-day operating costs. 

Submitting a request with the Public Service Commission of South Carolina (PSCSC) this summer allows us to keep pace with the needs of a growing state, rather than falling behind, so we can continue to support reliability and long-term economic growth for the communities we serve.

The Reasons for the Request

This request is about following through on our commitment to South Carolina and staying focused on what matters to customers. Duke Energy teammates show up every day to build, maintain and operate infrastructure and capabilities that support growth in this state – whether it’s storm-hardened lines in rural communities, system upgrades to support new industry, or technology that prevents outages or helps us respond faster when outages occur. 

The investments in this case align with the company’s three big priorities:

Investing in what matters to customers – Duke Energy Carolinas is committed to meeting the expectations our customers have around reliability, responsiveness, affordability and value. This proposal reflects the investments we have made to strengthen the grid, improve storm readiness, maintain and enhance our generating fleet, and serve a growing customer base. It also reflects how we are doing that work: with discipline, with a focus on operational excellence, and with a thoughtful approach to how and when we seek rate adjustments.

Operational excellence – We are doing more with less, keeping non-fuel operating costs low even as we expand and improve the system, and taking smart steps like increasing storm reserve funding so we are better prepared and able to lessen the impact to customer rates when a big storm hits. 

Better matching recovery with investments – We are being more thoughtful about how and when we seek rate changes, aligning our requests more closely with the investments we have made. That helps avoid letting costs build up between cases and promotes more predictability for customers. It has been 18 months since our last rate review request, and this more measured approach allows us to stay closer to actual cost levels and reduces the need for deferral requests.