Beginning in January, Duke Energy will introduce changes to customer bills in South Carolina following approval from the Public Service Commission of South Carolina (PSCSC). These changes reflect investments made to recover from Hurricane Helene, strengthen the power grid, and upgrade existing power plants.
Tim Pearson, Duke Energy’s South Carolina president, said: “Duke Energy is committed to meeting the expectations our customers have around reliability, responsiveness and value – striking the right balance that delivers these at the lowest possible cost for customers. That means investing in what matters, delivering results efficiently, and remaining transparent about what customers are paying for and why.”
The PSCSC has approved updates for both Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP), which are the company’s two utilities operating in the state.
To address costs from Hurricane Helene, a securitization plan was approved. This involves selling low-interest, long-term bonds to recover expenses while keeping costs lower for customers. The plan is expected to save DEC customers more than $140 million on Helene-related expenses. Starting in January, a typical residential DEC customer using 1,000 kilowatt-hours per month will see a new storm charge resulting in a 3.2% increase—or $4.58—on their bill. According to Duke Energy, this approach delivers 20% savings over traditional recovery methods.
Pearson stated: “We appreciate the legislature providing tools like securitization to address extreme storm costs as we continue to pursue ways to reduce these impacts on customer bills.”
Duke Energy has also invested in grid upgrades and technology improvements intended to enhance reliability and resilience against storms. Over the past two years, more than 70% of South Carolina customers now benefit from self-healing technology that automates power restoration after outages.
“Meeting the needs of our customers means prioritizing investments that enhance the grid while also minimizing the cost impact for customers,” Pearson said. “For example, Duke Energy’s nuclear units are expected to generate hundreds of millions of dollars of annual tax credits in the coming years – savings that will be passed to our customers beginning in 2026.”
Comprehensive agreements recently approved by regulators include applying tax credits directly to bills and shareholder-funded contributions for residential customers. These measures aim to offset recent infrastructure investment impacts over the next two years.
For DEP residential customers using 1,000 kWh per month, monthly electric bills will rise by about $11.20 starting February 1—from $153.82 per month up to $165.02. For DEC residential customers with similar usage levels, monthly bills will increase by approximately $0.84 beginning March 1—from $148.02 up to $148.86; this includes charges related to securitization.
DEC serves roughly 680,000 households and businesses primarily in Upstate and north central South Carolina; DEP serves about 177,000 households across northeastern regions such as Sumter and Florence counties.
If regulators approve a proposed combination of DEC and DEP utilities in 2026, it could result in more than $1 billion saved for Carolinas’ customers over future years.
Pearson added: “Customers expect us to manage our costs, but they also want options to manage their own energy usage and give them tools to impact their own bills. That’s why we’re helping customers lower their energy use – and lower their bills – through programs that make a measurable difference.”
Across North Carolina and South Carolina combined (“the Carolinas”), Duke Energy’s energy efficiency programs report annual savings significantly above national averages; recent enhancements have increased incentives available for participation.
More information on how Duke Energy helps its South Carolina clients manage energy costs can be found at duke-energy.com/SeasonalSavings.
