Staff Report
Published March 18, 2013

Duke Energy filed a rate request with South Carolina regulators Monday that would increase electricity bills by 16.3%, 14% and 14.4%, respectively, for residential, commercial and industrial customers.

Clark Gillespy, Duke’s S.C. president

The increase, which requires approval from the Public Service Commission of South Carolina, would raise $220 million in additional revenue, Duke said. The additional revenue is needed to offset investments in infrastructure and new energy production, the company said.

“As part of our ongoing fleet-modernization plan, we have recently built and put into service two new, state-of-the art power plants that will provide cleaner electricity and serve our customers reliably for decades to come,” said Clark Gillespy, Duke Energy’s South Carolina state president, in a news release.

If approved, this would be Duke’s third rate increase since 2010. Rates for South Carolina customers increased in February 2012 by an average of about 6%. That increase dropped per a settlement with the Public Service Commission from Duke’s original request for a rate increase of 15%.

Duke Energy Carolinas’ service area covers 24,000 square miles in North Carolina and South Carolina and supplies electric service to 2.4 million residential, commercial and industrial customers.