Press Mention Daily Energy Insider January 16, 2023
SACE Referenced
Duke Energy Progress gets approvals for rate review request in South Carolina
In this mention
Duke Energy Progress received approval from multiple stakeholder groups, including the Southern Alliance for Clean Energy, for its rate review request in South Carolina. The approved rate increase of approximately $52 million—41 percent less than the $89 million originally requested—will result in typical residential customers paying about $10.95 more per month starting April 1, 2023. The agreement also resolves coal ash basin closure cost recovery and requires final approval from the Public Service Commission of South Carolina.
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Duke Energy Progress gets approvals for rate review request in South Carolina
Dave Kovaleski | January 17, 2023 | 1 min read
Duke Energy Progress got approval from various consumer, environmental and industrial groups for its rate review request in South Carolina.
The company must not get final approval from the Public Service Commission of South Carolina. If approved, starting April 1, the typical residential customer in South Carolina using 1,000 kilowatt hours of electricity would pay about $10.95 more per month. It will also impact the rates of commercial and industrial customers.
The total increase will be approximately $52 million, roughly 41 percent less than the $89 million Duke Energy Progress requested to recover investments. The agreement also resolves recovery of coal ash basin closure costs in this case as well as allows Duke Energy Progress, among other provisions.
The company got approval from several stakeholders, including the Office of Regulatory Staff, the Department of Consumer Affairs, the South Carolina Energy Users Committee, the Southern Alliance for Clean Energy, the Coastal Conservation League, Vote Solar, the Sierra Club, the Department of Defense/Federal Executive Agencies, Walmart, Nucor Steel, and the Small Business Chamber of Commerce.
"We appreciate the parties giving such thoughtful consideration to the needs of customers and to our ability to continue investing in the state's vibrant economy," Mike Callahan, Duke Energy's South Carolina state president, said. "Especially during these challenging economic times, Duke Energy Progress stands ready to deliver the energy future our customers expect, to respond to destructive storms quickly and safely, to help our customers in need, and to act in our customers' best interests."