Duke Energy wants to raise prices in SC again. Here’s how much, how you can voice your concerns

Duke Energy has asked the South Carolina Public Service Commission to approve a $150 million rate increase.

If approved, the 7.7% increase would add about $10 a month to a typical bill and go into effect next year.

The company is holding two more public hearings as required by law, including a virtual hearing at 10 a.m. Nov. 13. There is one more in-person meeting, at 6 p.m. Thursday at the Greenwood 50 Performing Arts Center. Hearings have already taken place in Greenville, Anderson and Spartanburg.

Duke Energy provides electricity to about half of the state — 18 counties in all in western South Carolina with 680,000 customers.

The last time Duke requested an increase to base rates was in early 2024, which was approved, and since then they said they have strengthened the grid, improved reliability and storm resilience, and maintained and upgraded the array of power generation facilities.

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

Company spokesman Ryan Mosier said the rate increase request is not related to damage from Hurricane Helene a year ago, which the company has described as the worst in its history.

Instead, the company intends to issue storm bonds due to Helene that will save South Carolina customers about $143 million, or 21%, on future energy bills when compared to traditional recovery of storm costs through base rates.

“As approved by the PSCSC, the 20-year storm bonds would likely be issued by late 2025 and be reflected in customer bills beginning in late 2025 or early 2026.

If approved as proposed, residential customers using 1,000 kWh per month would see an increase of $4.12 per month. The exact amount is not firm since all final terms of the storm recovery bonds are not known.

When the remnants of Hurricane Helene roared through South Carolina, Duke officials said, “Transmission infrastructure in Upstate South Carolina, which sends electricity to the distribution lines serving homes and businesses, was severely damaged and, in many cases, destroyed by wind, flooding, fallen trees, and more.”

They used helicopters, drones and track vehicles to assess damages and restore power.

The overall grid remained stable, the company said at the time.