2022-09-01 | NYSE: DUKE | Press release

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  • The request reflects steps the company is taking to anticipate and keep pace with changes occurring in Palmetto State to better serve customers.
  • Investments improve resilience, contribute to an orderly transition to a secure energy future and improve the customer experience
  • The proposal is the company’s first to increase base fares since 2018

GREENVILLE, South Carolina, September 1, 2022 /PRNewswire/ — Duke Energy Progress today requested Caroline from the south regulators to review its rates as the company continues to work to increase system reliability and resiliency, achieve a cleaner, smarter energy future, and improve the customer experience for more than 172,000 customers in the Pee Dee area Caroline from the south.

“We know how important electrical service is to our customers and no one wants to see bills go up,” said Mike CallahanDuke Energy state of south carolina President. “This is especially true now that rising costs in most sectors of our economy are impacting consumers and businesses everywhere. Caroline from the south and the nation.”

“These challenges affect the energy industry as a whole, and – through smart investments – we are working hard to meet customer expectations and lay the foundation for a smarter energy future that all North Carolina residents enjoy. South can benefit.These investments in critical energy infrastructure are primary reason for the proposed rate increase,” Callahan said.

To mitigate the impact of these investments on its customers, the company’s rate application to the Public Service Commission of Caroline from the south (PSCSC) proposes to phase in the proposed rate increases over two years.

If approved by the CSCFP, the total net impact of the proposed increase on residential customer bills is 14.7%. Commercial and industrial customers will see an average increase of approximately 7.8% (actual rates vary by customer category and size).

If approved, the charge for a typical residential customer using 1,000 kilowatt hours (kWh) of electricity from April 1, 2023will increase $14.36 per month, from $133.01 at $147.37. Departure April 1, 2024the total monthly impact for a typical residential customer using 1,000 kWh per month would increase by one $4.40for an average bill of $151.77 per month.

Customers who are struggling to pay their energy bills may be eligible for assistance from various government and non-profit programs for utility bills and other household expenses. Duke Energy also offers programs and resources to help customers manage their usage to mitigate the impact of rate changes as well as flexible payment terms to help customers in situations of uncertainty, to include flexible payment options, including the Share the Lumière Funda Duke Energy program that provides energy assistance.

To learn more about these programs, details of the company’s proposal and the rate review process, visit duke-energy.com/SCProgressRates.

Duke Energy Progress

Duke Energy Progress, a subsidiary of Duke Energy, has 12,500 megawatts of energy capacity, supplying electricity to 1.7 million residential, commercial and industrial customers over a service area of ​​29,000 square miles in North Carolina and Caroline from the south.

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, North Carolina, is one of the largest energy holding companies in the United States. Its electric utilities serve 8.2 million customers in North Carolina, Caroline from the south, Florida, Indiana, Ohio and Kentucky, and collectively possess 50,000 megawatts of power capacity. Its natural gas unit serves 1.6 million customers in North Carolina, Caroline from the south, Tennessee, Ohio and Kentucky. The company employs 28,000 people.

Duke Energy is executing an aggressive clean energy transition to meet its goals of net methane emissions from its natural gas business and at least 50% carbon reduction from power generation by 2030 and net emissions carbon emissions by 2050. Zero goals also include Scope 2 emissions and some Scope 3 emissions. zero-emission power generation such as hydrogen and advanced nuclear.

Duke Energy was named to Fortune’s 2022 “World’s Most Admired Companies” list and Forbes’ “America’s Top Employers” list. More information is available at duke-energy.com. The Duke Energy News Center contains press releases, fact sheets, photos and videos. Duke Energy lighting features stories about people, innovations, community issues and environmental issues. Follow Duke Energy on Twitter, LinkedIn, instagram and Facebook.

24-hour media line: 800.559.3853

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