Duke Energy Requests For Residential Rates Increase By 9.3% In South Carolina

Published: 27-Jul-2009

By: Staff Writer Staff Writer Staff Writer

US-based Duke Energy, a Fortune 500 company that owns nuclear, coal-fired, natural gas and hydroelectric generation, has requested with the Public Service Commission of South Carolina (PSC) to increase residential rates by 9.3%.

The proposed increases to general rates vary by customer group. If all of the company's requests are approved, the average South Carolina monthly residential bill would increase to around $97 for 1,000 kilowatt-hours of electricity.

Brett Carter, president of Duke Energy Carolinas, said: "For 18 years, we've held the line on general rates in South Carolina. Unfortunately, our current rates are no longer sufficient to build a cleaner, more reliable system, meet our expenses, provide a fair return to investors and maintain a strong financial position."

From 1991 till the end of September 2009, the company would have invested approximately $14 billion in new power plants, power lines and equipment across the system and in pollution control equipment on some of its largest plants.

Duke Energy Carolinas' South Carolina rates are presently 37% below the national average and arould 31% below other utilities in the Southeast, and even after the increase in rates that would be below these averages.

In South Carolina, the average residential customer can save approximately $5 a month by participating in energy conservation programs which was launched by Duke Energy on June 1, 2009.

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