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Duke Energy Carolinas proposes new rates to support ongoing efforts to build a stronger energy future for South Carolina customers

1. Duke Energy requests a rate review, seeking a $150.5 million increase. 2. Proposed rate hike would raise residential bills by $10.38 monthly. 3. Investments have reduced outages and improved storm response capabilities. 4. Company aims to enhance grid reliability and support economic growth. 5. Focus on operational excellence and timely rate adjustments highlighted.

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FAQ

Why Bullish?

The requested rate increase suggests financial strength and potential for stable cash flows, similar to past periods when rate hikes led to strong stock performance.

How important is it?

The proposed rate increase directly impacts future revenues and profitability for DUK, making it highly relevant to stakeholders.

Why Long Term?

If approved, the rate increase will provide stable revenue over several years, improving investor confidence and supporting long-term growth.

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Recent investments have strengthened the grid and reduced outages for customers The electric utility serves nearly 680,000 customers in the Upstate region and along the I-77 corridor south of Charlotte , /PRNewswire/ -- Duke Energy Carolinas today asked South Carolina regulators to perform a public review of the company's current rates. The company last requested a review of base rates for customers in early 2024. Since then, the company has made investments in the things our nearly 680,000 retail electric customers expect from us: upgrades to strengthen the grid, improve reliability and storm resilience, and maintain and upgrade our generation fleet. Duke Energy Carolinas provides retail electric service to customers in the following counties in South Carolina: Abbeville, Anderson, Cherokee, Chester, Fairfield, Greenville, Greenwood, Kershaw, Lancaster, Laurens, McCormick, Newberry, Oconee, Pickens, Saluda, Spartanburg, Union and York. By the numbers: The company's application in front of the Public Service Commission of South Carolina (PSCSC) requests an overall annual revenue increase of $150.5 million, which represents a 7.7% increase over current revenues. If approved, monthly electric bills for typical residential customers using 1,000 kilowatt-hours per month would increase $10.38 a month – from $136.82 per month to $147.19 – effective March 1, 2026. Commercial customers will see an average increase of 5.4% and industrial customers will see an average increase of around 5.2%. The amount of increase per customer class can vary based upon how much more additional revenue is needed to ensure that the class is covering the cost to serve them. Why it matters: Duke Energy is committed to meeting customers' increasingly higher expectations around reliability, responsiveness, affordability and value – and supporting South Carolina's continued economic growth. This proposal reflects the investments we have made to strengthen the grid, improve storm readiness, maintain and enhance our generating fleet and serve a growing customer base. It also reflects how the company is doing that work: with discipline, with a focus on operational excellence, and with a thoughtful approach to how and when we seek rate adjustments. Investments in action: The company's grid investments have positioned it well for storm response. For example, as Hurricane Helene made its way across the Carolinas, grid improvements were already helping to combat power outages from the storm. Smart, self-healing technology installed across the Duke Energy Carolinas service territory helped to automatically restore more than 35,000 customer outages and saved more than 153,000 hours of total outage time, showing the value of the self-healing programs. Our view: "We know families and businesses are juggling a lot and we do not take a request to increase rates lightly but being upfront and timely with our request is the right thing to do and in the best interest of our customers." – Tim Pearson, Duke Energy's South Carolina president More info: Details on the company's proposal, the rate review process and the variety of assistance programs and billing options offered by the company can be found here. Duke Energy CarolinasDuke Energy Carolinas, a subsidiary of Duke Energy, owns 20,800 megawatts of energy capacity, supplying electricity to 2.9 million residential, commercial and industrial customers across a 24,000-square-mile service area in North Carolina and South Carolina.  Duke EnergyDuke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.6 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,100 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage. More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition. Contact: Ryan Mosier24-Hour: 800.559.3853 SOURCE Duke Energy WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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