South Carolina regulators approve proposals that improve reliability, reduce Hurricane Helene cost impact on Duke Energy customer bills

Core Viewpoint - Duke Energy is implementing changes to customer bills starting in January to reflect investments made for recovery from Hurricane Helene, grid strengthening, and maintenance of its power generation fleet while supporting economic growth in South Carolina [1][2] Financial Impact - The Public Service Commission of South Carolina (PSCSC) approved updates for Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP) to enhance reliability and value for customers [2] - A typical residential DEC customer using 1,000 kilowatt-hours (kWh) will see a 3.2% increase in their bill, amounting to $4.58, while still achieving a 20% savings over traditional cost recovery methods [3] - DEP residential customers will see an increase of about $11.20 per month, while DEC customers will see an increase of about $0.84 per month starting in February and March respectively [7] Investments and Infrastructure - Duke Energy has invested in grid upgrades and improvements to enhance reliability and storm resilience, with over 70% of South Carolina customers benefiting from self-healing technology [4] - The company’s nuclear units are expected to generate significant tax credits, which will be passed on to customers starting in 2026 [4] - Targeted investments have hardened the grid against storms and upgraded existing power plants to maximize efficiency [6] Customer Base and Service Area - DEC serves approximately 680,000 households and businesses in Upstate and north central South Carolina, while DEP serves about 177,000 customers in the Pee Dee region and northeastern South Carolina [5] - Duke Energy collectively serves 8.6 million customers across multiple states, owning a total of 55,100 megawatts of energy capacity [10] Energy Transition and Efficiency - Duke Energy is focused on an ambitious energy transition, investing in electric grid upgrades and cleaner generation sources [11] - The company’s energy efficiency programs deliver annual savings that are 150% better than the national average, with increased incentives for customers to save money [12]