Beginning in January, Duke Energy will introduce changes to customer bills in South Carolina. These adjustments are a result of investments made to recover from Hurricane Helene, strengthen the electrical grid, upgrade power plants, and support the state’s growing customer base.
The Public Service Commission of South Carolina (PSCSC) has approved these updates for customers of Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP), which are the company’s two utilities operating in the state.
To address costs related to Hurricane Helene, Duke Energy will use securitization—selling low-interest, long-term bonds—to help recover expenses while keeping costs lower for customers. The PSCSC recently approved this plan, which is expected to save DEC customers more than $140 million on storm-related expenses.
Starting in January, a typical residential DEC customer using 1,000 kilowatt-hours per month will see a new storm charge on their bill reflecting a 3.2% increase, or $4.58. This approach is projected to provide 20% savings over traditional cost recovery methods during the recovery period.
“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,” said Tim Pearson, Duke Energy’s South Carolina president. “That means investing in what matters, delivering results efficiently, and remaining transparent about what customers are paying for and why.”
Pearson also acknowledged legislative support: “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.”
In recent years, Duke Energy has increased its focus on grid upgrades and reliability improvements. The company reports that it has nearly tripled the number of South Carolina customers served by self-healing technology over two years; now more than 70% benefit from automated power restoration tools.
“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.”
The PSCSC has also approved agreements with various stakeholders that will apply these tax credits directly to bills and include shareholder-funded contributions for residential customers. These measures aim to lessen the effect of infrastructure investments on bills 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 to $165.02 per month.
For DEC residential customers using 1,000 kWh per month, monthly electric bills will increase by about $0.84 starting March 1—from $148.02 to $148.86 per month (including the new securitization charge).
DEC serves approximately 680,000 households and businesses mainly in Upstate and north central South Carolina—including Greenville, Anderson and York counties—while DEP serves about 177,000 customers in northeastern regions such as Sumter, Florence and Darlington counties. If regulators approve a proposed combination of these two utilities in 2026, it could save Carolinas’ customers more than $1 billion in future costs.
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.”
Duke Energy states its energy efficiency programs across North Carolina and South Carolina deliver annual savings significantly above national averages—about 150% better—and have recently expanded incentives for many offerings within South Carolina.
More information about customer programs can be found at duke-energy.com/SeasonalSavings.
Duke Energy Carolinas supplies electricity across North Carolina and South Carolina with an energy capacity of 20,800 megawatts serving about 2.9 million residential, commercial and industrial users over a service area spanning 24,000 square miles.
Duke Energy Progress operates with an energy capacity of 13,800 megawatts supplying electricity across both states as well—serving roughly 1.8 million users over a service area covering 28,000 square miles.
Duke Energy (NYSE: DUK), headquartered in Charlotte N.C., is among America’s largest energy holding companies with electric utilities serving approximately 8.6 million users across six states including Florida.
