Duke Energy Proposes Fuel Cost Adjustment to Lower South Carolina Electric Bills by Up to 16%

Duke Energy Carolinas has proposed to the Public Service Commission of South Carolina (PSCSC) a reduction in the annual fuel cost adjustment to lower electric bills for its South Carolina customers. The adjustment, which is based on projected fuel costs and true-up from the previous year, aims to reflect decreased natural gas prices and a reduced true-up component. If approved, residential bills could drop by up to 13.8%, while industrial bills might decrease by over 16%. For a residential customer using 1,000 kWh per month, this would reduce the bill by $19.60, from $142.23 to $122.63. The changes, effective in November, would offset a base rate increase approved earlier. The PSCSC will review these proposed changes in a public hearing, considering audit results and other inquiries.