Greenwood, South Carolina, October 19, 2025
News Summary
Duke Energy Carolinas has proposed an 8.7% rate increase for residential customers, raising typical monthly bills by approximately $10.38 starting March 1, 2026. The increase aims to gather $150.5 million in additional annual revenue, highlighting concerns over affordability amidst rising energy costs. Residents voiced mixed opinions during a recent PSC meeting, some supporting the utility’s investment in reliability, while others criticized the rate hike given the company’s substantial profits.
Greenwood, South Carolina — Duke Energy Carolinas has proposed a rate increase of 8.7% for residential customers, which would add an estimated $10.38 to the typical monthly electricity bill. This proposal is set to take effect on March 1, 2026, affecting customers using 1,000 kilowatt-hours by raising their bills from $136.82 to $147.19.
Approximately 30 people attended a South Carolina Public Service Commission (PSC) meeting on October 19, 2025, to discuss the proposed increase. Of those in attendance, only four individuals voiced their opposition to the rate hike. The proposed increase is part of a total annual revenue increase request of $150.5 million, which amounts to 7.7% over current revenues.
Duke Energy has justified the rate increase by citing necessary investments in grid reliability and storm resilience. However, opposition during the PSC meeting raised concerns about recent climbs in energy costs; one resident mentioned that previous rate increases have already added $25-$30 to their monthly bills, impacting those on fixed incomes significantly.
Critics of the proposed rate increase pointed to Duke Energy’s substantial financial performance, reporting a gross profit of $20 billion and a net profit of $4.5 billion in recent years while simultaneously seeking to increase customer bills. Many residents expressed fears regarding the affordability of utility services and how these rate hikes might place additional burdens on seniors and low-income households.
The PSC is scheduled to hold a full hearing on the rate hike proposal at 10 a.m. on November 13, 2025. A live stream of the meeting will be available on the PSC’s website for those interested in following the proceedings.
Further public hearings are also being organized in various locations, the first of which occurred on October 16. Local residents are encouraged to pre-register if they wish to speak at these hearings about the proposed increase.
Concerns regarding power reliability were also highlighted during the meeting, as one veteran shared how power outages have affected his health. Another local resident suggested that Duke Energy itemize their spending on infrastructure upgrades for greater transparency and consumer understanding.
Amongst those gathered, there were mixed views. While some acknowledged Duke Energy’s contributions to local service, there were calls for a balance between the company’s profits and the affordability experienced by its customers. Notably, Duke Energy has invested nearly $400 million in its nuclear fleet since 2024, which includes upgrades to generation facilities, as well as local infrastructure projects to enhance utility services along major highways and distribution lines.
As discussions about energy costs continue, the impact of these proposed changes remains a focus of concern for many residents, highlighting the tension between corporate profits and customer needs.
FAQ
What is the proposed rate increase from Duke Energy Carolinas?
Duke Energy Carolinas has proposed a rate increase of 8.7% for residential customers, equating to an additional $10.38 on typical monthly bills.
When will the proposed increase take effect?
The proposed increase will take effect on March 1, 2026.
How much will residential bills increase?
The proposed increase will raise residential bills for customers using 1,000 kilowatt-hours from $136.82 to $147.19.
When will the PSC hold a hearing on this proposal?
The PSC will hold a full hearing on the rate hike proposal at 10 a.m. on November 13, 2025.
How can residents participate in the public hearings?
Customers can pre-register to speak at future public hearings about the proposed rate increase.
What are Duke Energy’s reasons for the proposed rate changes?
Duke Energy cited investments in grid reliability and storm resilience as reasons for the rate hike.
How much total revenue increase is Duke Energy requesting?
The increase represents a total annual revenue increase request of $150.5 million, or 7.7% over current revenues.
How much has Duke Energy invested in its nuclear fleet?
Duke Energy has invested nearly $400 million into its nuclear fleet since 2024, which includes upgrades to generation facilities.
Key Features of Duke Energy Carolinas’ Proposed Rate Increase
| Feature | Details |
|---|---|
| Proposed Rate Increase | 8.7% |
| Increase in Monthly Bills | $10.38 |
| Effective Date | March 1, 2026 |
| Current Bill (1000 kWh) | $136.82 |
| New Bill (1000 kWh) | $147.19 |
| Total Revenue Increase Requested | $150.5 million (7.7% over current revenues) |
| Investment in Nuclear Fleet Since 2024 | $400 million |
| PSC Hearing Date | 10 a.m. on November 13, 2025 |
Deeper Dive: News & Info About This Topic
HERE Resources
Duke Energy Proposes $150 Million Rate Increase in South Carolina
Duke Energy Proposes Rate Hike for South Carolina Customers
Duke Energy Proposes New Natural Gas Power Plant in South Carolina
Duke Energy Proposes Electricity Rate Increase in South Carolina
Duke Energy Appoints Harry Sideris as New CEO
Additional Resources
- Greenville Online: Duke Energy Rate Increase Proposal
- Fox Carolina: Duke Energy Proposed Rate Hike
- Duke Energy News: Proposed New Rates
- Wikipedia: Duke Energy
- MarketBeat: Duke Energy Shares Filing
Author: HERE Greenwood
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