Residential Service (RS-1)The standard RESIDENTIAL SERVICE (RS-1) rate will be revised to include a seasonal pricing configuration, charging lower rates during the spring, summer and fall. These revisions give customers a more forgiving pricing structure over the months that tend to generate peak energy usage.
2022 base energy charges for Winter Months (Dec. – Feb.)
- First 1,000 kWh = 7.623¢ per kWh
- All additional kWh = 8.773¢ per kWh
- First 1,000 kWh = 6.587¢ per kWh
- All additional kWh = 7.474¢ per kWh
SEE FULL RATE SCHEDULE
- The contract period for moving to a time-of-use rate is 12 months. After that 12-month period, you may switch to another rate if you find the TOU rate to be unfavorable. With the transition to a new billing platform, Duke Energy will introduce tools that will allow customers to calculate which rates might be more advantageous. Having a full 12 months of data in the system toward the end of 2022 would provide your facility or household with the information needed to make a more informed decision.
- Duke Energy has not changed the way that net metering credits are included in billing. The time-of-use rates could be appealing, as payback for net metering generation will align with the new TOU periods and updated pricing.
- The rates are not officially available until January 2022, so customers interested in making the change can contact our customer care team in January. However, many customers are finding that their annual consumption may have been skewed from irregularities caused by the pandemic. As a result, it may be more prudent for some to wait until usage patterns become more normalized.
- In the simplest terms, a time-of-use plan is a rate that varies according to the time of day, season and day type (e.g., weekdays vs. weekends/holidays). Higher rates are charged during hours where overall demand on the system is usually high, and lower rates are charged during hours when demand is typically lower.
- Instead of charging the same rate 12 months of the year, we have adjusted the charges to better align with higher seasonal peaks. The hot Florida summers usually mean higher usage, as air conditioners run with greater frequency. Customers on the RS-1 rate will soon see benefits from the lower rates in spring, summer and early fall, when consumption tends to be highest.
- Customers with electric vehicles (EVs) can certainly benefit by charging during off-peak time periods. For EV owners who would prefer not to change to time-of-use rates for all appliances, those customers can take advantage of the EV rider, which provides a rebate for charging during off-peak times.